http://vr-zone.com/articles/rumored-xbox-720-and-playstation-4-specs-hit-the-web/18741.html Article dated 1-20-2013
"Unlike Sony, there is no rumor as to when Microsoft will be announcing the next-generation Xbox, but we hear that it is currently codenamed internally as “Durango." Similar to the PS4, the Durango will be coming with an 8 core processor clocked at 1.6GHz, and uses AMD's Jaguar architecture. However, Microsoft's console will come with 8GB of GDDR5 RAM, a healthy portion compared to the PS4’s allotted RAM serving. So far we don't have any solid word on what the graphics chip will be like other than it is supposedly on par, if not better, than the PS4."
I don't know is this is a typo but it goes to show that until we start getting more concrete facts, everything has to be taken with a huge grain of salt. Now, if the 720 really does launch with 8GB of GDDR5 RAM and reserve 3GB for the OS, then that would leave 5GB of GDDR5 RAM for games vs. the 4GB of GDDR5 RAM for PS4 (or 3.5GB when accounting what's reserved for the OS) which would explain some insiders claiming that they will both be pretty equal, perhaps with PS4 having an edge on CPU (more FLOPS) and 720 having an edge on RAM.
