According to this post over at Akiba PC Hotline!, Intel has quietly begun selling a 120GB X25-M SSD over in Japan. Intel has yet to announce the product publicly, and there are no indications that it is available stateside. The drive fills the capacity gap that currently exists between the current 80GB and 160GB X25-M offerings.
Based on Akiba's photos, the 120GB product's model number is virtually identical to those of existing X25-M offerings, so it seems clear that this is still a second-generation part and not a third-generation X25-M released early and under the radar. The performance numbers bear that out: the drive's sustained read and write speeds are listed as up to 250MB/s and 100MB/s, respectively. A quick look at the X25-M product page on Intel's website confirms the 160GB X25-M carries the same specs.
This new SSD appears to be selling for approximately 21,000 yen, which amounts to $254. Considering the 160GB model is currently selling for $384.99 at Newegg, the 120GB offering looks like a pretty good deal.