The next box will not be called 720, since the current image is not doing them any good, it'll have a catchy sub-name like X-box Ultra or something like that.
It'll be out 2011 in the earliest, with Nintendo right behind and Sony a full year or possibly year and a half behind MS.
The next box should be a tad cheaper and will have a more broad and tech encompassing base SKU.
The next Nintendo will be very similar to the Wii I think, launching at roughly the same price.
The PS4 will probably be called just that and launch at 450$.







