It won't be until around E3 that Project Natal morphs from speculation to reality, but in the meantime, we get to play around with whatever manages to leak out. The latest comes courtesy of the Seattle Times blog, which claims to have snagged a photo of a Project Natal prototype. The blog reports this prototype has been distributed to studios making games for it.
(Note: the "legs" of the prototype are just a tripod usually meant for a camera. Remember, this is a prototype!)
I've dropped in an image of the slicker version of the device from last E3 below...
Source: Seattle Times