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From the look of things, I expect both to launch in 2013. MS hired so much talent the last 2 years, working on next gen software. That was openly mentioned in the job ads.

Rare working on next gen
Lionhead working on next gen
343i working on next gen

and there are studios most people here don't even know that are working on next gen games. http://www.mgsvancouver.com/ for example.

Sony on the other hand can't afford to be late again.



Imagine not having GamePass on your console...