So I was seriously considering getting the Series S as I just sold my One S for $180 and am getting ready to sell my other OG One w/Kinect and 500GB internal SSD upgrade (which in side by side comparisons with my One S made it much more responsive and quick to boot, launch games, etc.) for hopefully more, but that would have put the S as a zero dollar option and probably one with better availability.
BUT.
The Series S is stuck with One S levels of detail and resolutions with Xbox One and earlier titles! They don't get and of the One X improvements. That sucks, IMO, especially given the first couple years are going to be real thin on real next gen titles. I don't understand why the Series S can't play those titles at One X performance levels unless it's a ram thing and they just aren't making the calls on a game by game basis.
Finally, you can enjoy our first lengthy tests of the weirdly positioned $299 Series S.
arstechnica.com
So I guess it's Series X or bust.