Thinking about it, it would be kind of awesome.
They could grab so many headlines announcing the price, what the hardware looks like, HDD space, the release date:
Alongside they could highlight some 3rd party efforts: 1st gameplay of Witcher 3, Dark Souls 2, Theif, and alongside some services info and mayb some move projects.
E3 could be the return of all of the big guns: Square Enix, Naughty Dog etc







