Microsoft has revised power delivery on the new Elite. The Xbox 360 Elite makes use of smaller capacitors arranged in slightly different arrangements. Microsoft has also reduced the amount of MOSFETs installed in the power supply section of the PCB. There are also fewer resistors located above the CPU as well.
It looks like the Elite might run cooler than the previous versions, ahe motherboard looks a lot cleaner as well. I almost want my Premium to die so I will have an excuse to pick one up.
Source: Daily Tech