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Millennium said:
I honestly thought that a new XBox would be coming out in 2010, following Microsoft's addiction to the upgrade cycle. But there is one cold, hard reason that this cannot be the case: it's too close to that date, and there has been no announcement. If MS were planning a console release next year, they would have started to build hype for it by now. Any sensible console maker would.

We might see a new XBox in 2011, with hype starting in 2010, but this would be six years after the 360's release. That kind of longevity isn't earth-shattering by any stretch of the imagination, but it's certainly respectable. For all that I think Microsoft's influence on the industry has been poisonous, they seem to have at least come to their senses in this area, and that should be encouraged.

 

     I think there is still a lot more time between now and November 2010 remaining than there was between the announcement of the 360 and its release date.  When Halo 2 came out in November 2004, I don't think anyone had mentioned any plans for the 360 and I don't even think it had been announced when Jade Empire and Stranger's Wrath came out in early 2005.  The most anticipated xbox announcement at that time was Half-Life 2.