Team Xbox has what they think may be the first legitimate picture of the Xbox 360. The oddly angled image shows a portion of a sleek silver case with a strange button like thing in the center. The image is zoomed in enough that you can't really tell what you are looking at. TX say they got the pictures from The Our Colony Xbox 360 website, which has been trickling out tantalizing Xbox 360 related images since its inception.

Looking at the picture, I think it's probably more likely the removable hard drive, attached to the Xbox 360 that we are seeing. You can see some sort of release button at the bottom of the image, and the larger button in the center could very well be a handle of sorts.

Xbox 360 Revealed [Team Xbox]