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It wont happen.
1st games wouldn't use the threads of 16 cores
2nd cost, an 8core AMD is like $300,
3rd the reason MS games look better then PS3 games ( when multiplatform) is because xbox 360 is the standard for games this gen, games are made for the 360 then ported to PS3. fanboys and other people will bring up the few titles that do not follow this but its true face it. look at basically every big time multiplatform game that doesn't come out of japan and you will see the 360 version either looking better or the same and almost always running smoother as well.

IF MS doesn't have this again they will be in trouble. My guess is 4 cores. 3 for games 1 for other stuff.