My prediction:
Announcement will be made on E3 next year.
Release 4th quarter 2012.
- It will have two or four times the power of a PS3.
- True HD
- Some new unique way of controlling the games.
- Standard Controller will be included as well.
- It will use optical media, most likely blu-ray.
- Better online infastructure. Friendcodes will remain, but will be universal like the 3DS.
- Harddrive. Something between 250 and 500 GB.
- Backward Compability. (If it uses a similiar controller to Wii)