Seems a great price for a XBOX Elite to me.
From the website
This fantastic deal comes with the 120GB Xbox Elite Console, 2 games - Pure & Lego Batman the Video Game as well as 2 wireless controllers. Let the fun begin!
Xbox360 120GB Elite Console
2 Black Wireless Controllers
Takes quad racing to a new level
LEGO Batman: The Video Game
Enjoy numerous game modes and levels
Upto 40 hours of life on 2 AA batteries
Black Wired Headset
Realistic settings all over the globe