I took delivery of mine today!!
How to do it....
1) Get an HMV student card from any store you get 15% off your first online purchase.
2) Go to the HMV website. http://www.hmv.co.uk
3) Go to the Buy one Get one free xbox 360 game section via the Offers tab. Select two games from the list. The games must be added to the basket before the console
4) Find the Xbox 360 Premium using the search and click more info, scroll down to the Xbox 360 Premium + Halo 3 + NFS: Prostreet and add it to basket.
5) Go to the checkout and sign in / make a new account
6) Go to account options and type in your HMV student card number into the student card box.
7) Go back to the basket and then enter the same student card code into the Promotional Code box. This then adds the extra 5% on top of the usual 10% discount for students.8)
Go through the ordering process and in 3-5 days you will get an Xbox 360 + 4 decent games for only £267.
And there you have it!
I'm not entirely sure whether or not there is an expiry date with this offer, i tried contacting HMV via e-mail to check but they never got back to me.