As we already knew, Sony did plan to launch a 250GB PlayStation 3 slim to add to the already available 120GB version. We now know that the 250GB model is now officially confirmed to arrive on dealer shelves starting November 3rd.

The move by Sony to bring the 250GB version of the PS3 slim to market in November means that it will be in time for the upcoming Microsoft Xbox 360 Modern COD Warfare 2 Limited Edition console, which will also feature a 250GB hard drive; it will not arrive until November 11th and it will cost $50 more than the PS3 250GB slim.

It looks like for the moment the 250GB PS3 slim will not have a software bundle with it, but our sources suggest that this could change. Because of the introduction of the new 250GB PS3, we are also hearing whispers that the remaining older 160GB PS3s that retailers have left in inventory will drop by $50, making their new price $299. The 250GB PS3 slim will retail for $349 when it arrives on November 3rd.

Sony claims that the release of the new 250GB version of the PS3 slim is in response to customer demands due to the amount of content that is being downloaded. Users simply just need more space and the 250GB version adds the space that many users need.

Microsoft has claimed that the launch of the Xbox 360 Modern COD Warfare 2 Limited Edition, which features a 250GB hard drive, will be a limited release and that the company has no plans to make the 250GB hard drive available separately. However, our sources are now whispering that the introduction of the “Super Elite” is very likely. The “Super Elite,” as it is being called in many circles, will likely feature either a 250GB or 320GB hard drive, but the rest of the package would be the same.

Microsoft will likely make this announcement at CES after the holidays, according to our sources. Microsoft will have the Xbox 360 Modern COD Warfare 2 Limited Edition with the 250GB hard drive to go head to head with the 250GB PS3 slim for the holiday season, but after the holidays they will need a replacement console with a larger hard drive to compete with the larger hard drive in the 250GB PS3; and it is likely that Microsoft may opt to launch a 320GB unit to give them an advantage over Sony.