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Either way, in the consumer electronics industry, reburbishment is the repair to working order of a non-working or malfunctioning product.  It is never associated in any fashion with a whole product line, a new product line, improvements to a unit or product beyond original spec, etc...

With the way some of guys call the Wii a refurbished GC, you could say the Slim is a refurbished PS3.  But that's just as incorrect.

 

And as for the kitchen analogy, go looking up kitchen refurbishing and kitchen renovation in Google and tell me the difference in the returns.  The former is about restoring while the latter is about replacing.



The rEVOLution is not being televised