Crytek president and ceo Cevat Yerli Estimates 3 to 4 years for next gen.

“The PlayStation 4 and Xbox ‘720′ will arrive in 2011 or 2012, we think,” said Yerli. “But this is just our estimate - we don’t know, and even if Microsoft and Sony told us, I couldn’t say because it would be under NDA.

“But we think in three to four years’ time, although there are good reasons why it should be 2010 already…but we’ll see.”

Full story here.

http://www.gamesindustry.biz/articles/ps4-and-xbox-720-to-arrive-in-2011-2-estimates-crytek

What is going on in 2010, besides the mission to Jupiter to see what happened to Discovery One?

OMG!!!!! THE NEXT GEN WILL BE 5-7 YEARS AFTER THE LAUNCH OF THIS ONE!

what amazing insight, where does this analyst get his crazy wacked out estimations from, i never would have guessed the next gen would start somewhere around 6 years after the previous one, because thats crazy talk.

So is 720 official?

Well maybe It's anyone's guess at this point.

Direct X just OWNS!...........thats the biggest reason for the Xbox 360's 3rd party success. and Microsoft did say that this console war would be fought on the grounds of software, not hardware. and so far they are right.
in all cases, Sony has the superior hardware (although thats ope for debate), and Microsoft easily has the better software games, and API tools (XNA, Direct X etc:)

well... we'll see then...

Honestly, I don't believe they'll come out that late. Microsoft is too in love with short console lifetimes, and Sony needs the sales boost of a new console. 2010 at the latest.

Honestly, I hope not. FFXIII and FFvXIII won't even be out yet... ;)

@JaggedSac:
2010? isn't that the next football/soccer world cup?
They must have some awesome game for that in the pipeline

@Steven787:

probably true though unfortunately