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This late into development I think it is unlikely.

However it isn't impossible. None of the consoles have shipped so it would be a case of just putting in the new ram.

One thing is for certain MS are in a far better position then Sony financially to take a big hit. They could easily change the specs if they wanted to as they already did that with the 360. With all the negativity since E3 about the X1 I think it is more likely MS will try and win people over. Would not surprise me to see the price drop a lot before the official release. I think that is probably the more likely thing to happen.