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Im calling BS on this.

If Microsoft was planning on releases a new console to replace 360 in late 09/early 2010 then they would be hitting their core market - Hardcore gamers preety hard...

Not to mention the fact that it suggests that we would be hearing about the console preety soon ( like hints about it at E3, TGS then unvieling at CES09?)... which would hurt the 360 sales wise. Who wants to buy a 360 when its going to be replaced in 12 months ?
Ohh and i doubt SONY or Nintendo would even give Microsoft credit for the move -- it would be more of a 7.5 gen consoel than a 8th gen console ...