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CGI-Quality said:
I wouldn't really mind Xbox 720 (yes, I know what you don't want).

I heard a rumor that "Xbox Liquid" is the code name (remember, just a rumor) because the console will contain a liquid coolant.

But code names never make the cut when it comes to final names.  Also by the time of its release we should be in the 22nm era and their shouldn't be any more need for liquid cooling since the chips just don't use that much electricty anymore and shouldn't get that hot.