xbox 360 pricing

http//money./...
That's a link to CNN about the Xbox 360.
Highlights are that it will come in two versions.  The $300 one will just be the console with corded controllers.  The $400 version will have wireless controllers, 20GB HD and a headset.  You also need to have the HD to play games from the first xbox.  The games will be $60.

would the hi-def. AV cable that comes with the $400 360 pack work on a standard TV?
that's all i have at the moment (and for a fair old time, what with the UK's lack of Hi-Def TVs)