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Is this going to be the new "NX" replacement? MS is slowly but surely leaving the console business, not videogames industry though. MS is gearing up to be something like Steam. This requires MS to not need 1st party developers. They will probably keep the Halo studio and thats it. The rest of their IP's will be licensed out - For example they have a partnership with SEGA to have them maintain Halo Wars.

Pricing the XBOX X at 499 is fine. Its a enthusiast console like the NEOGEO. Its not meant to compete with anything. Its just to entice 3rd parties to not completely abandon XBOX.