I'm also considering getting a different combo: a "console only" from ebay (currently $110), plus the $80 hard drive, plus a broken console which includes the cables. If I can get the broken console for say $30 shipped, that's $220 total, and the console would have the HDMI output for futureproofing.
EDIT: There are power bricks and AV cables on Ebay separately, no broken console needed. The console only without HDMI is $100, 120GB hard drive $80, power brick/AV cable for $20, total $200.