There's also this post:
So I am going to say take this with a grain of salt.
I am at work and was talking to a co worker about E3 and Biowares news game that was announced where MS had the marketing rights.
I went to ring a customer up and he said I over heard you talking about the Microsoft and video games and asked if I was talking about the Scorpio.
I said yeah I was and said he works for Microsoft in a different division, but in 2 weeks he is going to Redmond to play it.
The rumors around the office is there will be 3 versions. All based on hard drive space and spec bumps for each version.
$449 $549 $649
He also said they all think the final name will be called Scorpio based on company talk.