Looks like Microsoft wants to give you a good reason to buy that new Xbox 360 Elite with the 120GB hard drive. So they're pumping up their offering of HD video content available on Xbox Live Marketplace.

New content from Paramount, New Line, and Warner Brothers will include Braveheart, World Trade Center, South Park: Bigger, Longer & Uncut, Snakes on a Plane, and Babylon 5: The Lost Tales.

There will also be new content from A&E, National Geographic, Totalvid, and anime from ADV Films.

While there's been a lot of talk these last few days about the AppleTV, the truth is you can only purchase programs with VGA resolutions from iTunes, while Xbox Live offers up HD content (with a hard-to-follow pricing scheme based on "points.")