After weeks of rumors, speculation, leaks, and pre-release shelf-stocking by large retail outlets, Microsoft finally confirmed the release of the Xbox 360 Arcade. With an MSRP of $279.99, the configuration is targeted at families and other non-hardcore gamers, who have largely been turning to Nintendo's Wii console, which launched with a price point of $249 and a strong selection of all ages games.

Available for sale beginning today, the Xbox 360 Arcade ships with a wireless controller, an HDMI connection for hi-def output, 256 MB of memory, and five family-friend games, including Namco-Bandai's Pac-Man Championship Edition, Carbonated Games' Uno, MumboJumbo's Luxor 2, Electronic Arts' Boom Boom Rocket, and Sprout Games' Feeding Frenzy.

Microsoft also announced plans to expand the console's family-friendly selections, including Looney Tunes cartoon downloads and online games featuring characters from movies like Shrek and shows like Blue's Clues, The Backyardigans, and Spongebob SquarePants.

. "In addition to offering an incredible all-in-one package for families to get right into the fun, the Xbox 360 Arcade system features the industry-leading family settings, which allow parents to control what their kids are watching and playing -- and we know how important that control is to families around the world," said Microsoft's corporate vice president of global marketing, Interactive Entertainment Business, Jeff Bell, in a press release.

The holiday season will also mark the release of several new family titles, including Bee Movie: The Game, Guitar Hero III: Legends of Rck, amd Naruto: Rise of a Ninja.