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I think you've hit the nail on the head - it's long been speculated/rumoured that MS was going to introduce 'forward compatibility' to their next console.

I think it works great for everybody - MS will benefit because they don't lose their subscription fees, the developers will like it because there's a big market to sell games to and the consumers should like it because there's already a huge back catalogue of games and if it debuts close to the same price of the current systems then why should they care?