your best bet is probably to get the 4GB 360 and then buy the Hard Drive seperately. If I'm not mistaken it's a little cheaper that way. Or maybe it's a little more expensive... can't remember. Just look it up. If it's more expensive than the 250GB 360, just get that. But yeah you can use that cable to just transfer all your save data, profile data, games - everything on your HDD will go onto the new one like nothing ever happened.