I think that those of you that really think that the next xbox won't be out until 2014 or later even with this news just don't know what you're talking about. Microsoft and Sony were embarrassed by Wii this gen and this news coming so close after E3 all but ensures that they plan on killing Nintendo's new console right out of the gate. Iwata has already said Wii U won't be cheap unlike the Wii was, so Nintendo is planning on launching a $300 to $400 console next year, and much as xbox said a few years ago about Sony, "We're going to release our new console one day after Sony does theirs", I'm pretty sure we'll see the new Microsoft console Holiday 2012. It might even come out one day later than Wii U. Most likely it will be two or more times more powerful than the Wii U, it won't be packing Kinect 2.0, or anything fancier than a new joypad when it launches; however, it will be the same price (or even cheaper than Wii U) and come with just as many or more core games at launch than the Wii U.