Pretty much on the same boat, I really appreciate Phil Spencer and Microsoft willing to play ball and letting Banjo-Kazooie join Super Smash Bros Ultimate, But they really gotta show me how serious they are this generation, The only "Non-Rare" Xbox franchise I'm somewhat interested in is the Halo franchise, But that alone won't get me to buy an Xbox, They really gotta really come out swinging with Rare's IP's and the good news is that they seem to be heading into that direction, Killer Instinct and Rare Replay was a good start last gen and now Battletoads got revived and a lot of rumors are saying that their new homegrown studio, "The Initiative" is working on a Perfect Dark reboot, If they deliver on those fronts and come out with a brand new Banjo-Kazooie game or remaster then I will very likely try to save up and buy an Xbox Series X.
I would consider the cheaper Xbox, But my only gripe with it based on the rumors and judging from Sony's SKU's, It's that it's gonna be a digital only box, I heavily prefer physical as I mentioned before I still have my copy of Rare Replay, Not to mention that I like that it has a 4K Blu-Ray drive if I ever need to use it and the extra power behind the "Xbox Series X" will finally let me take advantage of the 4K tv I have in my living room, But the cheaper model is a great idea if you don't care about power and prefer digital media, Should come in handy to use and access "Xbox Game Pass".