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DanneSandin said:

Microsoft will apparently be focusing their e3 presentation around the media functionality of the NextBox, because they don't have too many games ready.  And it will launch with VERY FEW games.

Also, Xbox is losing one of their exclusive games....

The 720 will also be region locked...

There are three Xbox 8 pillars that Microsoft will be focusing on at E3, Xbox LIVE is one.  The second will be Kinect 2 with a demonstration/presentation of Illumiroom.  The third will be games.  However, they'll also be showcasing games and feature changes for the Xbox 360, Windows Phone 8, and Windows 8/RT/Surface.  Had your source been smarter they might have actually known what Microsoft will be doing in April, or next month for employees.

There's only one AAA exclusive game that comes to mind on the Xbox 360 that isn't on the PS3, so I'm not sure it's as big of a deal as you make it out to be.  The prediction is based on a rumor, which given the developer isn't that big of a deal.  The developer isn't an exclusive developer, so I'm not sure why one would think their games would be exclusive forever.

The Xbox was region locked.  The Xbox 360 was region locked.  What on earth would posses you to make you think the Xbox 8 wouldn't be region locked?