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I don't believe that the hybrid chips are mature enough at this point in time to use as a complete solution for a gaming system of any kind ...

This isn't to say that these chips won't be used in the next generation, or the approach might not be viable in the following generation, but I think there will still be a stand alone GPU in the next generation of consoles; and if these consoles do have a hybrid cpu-gpu I suspect that the gpu on the cpu will be used in a similar way to how a onboard GPU is used in the hybrid crossfire x (or possibly used as a PPU).