I don't think Microsoft will release any news until the Nextbox 720 is within 6 months of being on the market. What we saw with the Surface reveal is that they can be surprisingly good at keeping secrets. A new Kinect that be even better than the 'Project Natal' we saw first demoed should drive even more casual/dance/fitness games. Plus it will be all new and shiny with some major new games for the hard core.
I think Sony will give us more hints, and 'promises what it can do' kind of speeches. They might give us a year of teases, if they think it will hurt competition. But unlike the PS2 gen, they are no longer THE big major game in town, so I think it will be a spring reveal, also with not much more than a 6 month window.
For a both I think any news of a new console will hurt their sales. I think Xbox more than Sony, but that's just my opinion. The PS2 continued to sell very well even after the PS3 release.
I think Microsoft will hold their own event for the reveal.
It will be fun and interesting when we actually start learning and hearing more! (Although, I do find it odd that we still don't have much on the WiiU stats.)







