Microsoft would be stupid not to show 720 before 2013.

E3 2013, both out Fall 2013

NextBox either E3 '12 or '13
PS4 either TGS '12 or E3 '13

Do you guys think its wise for either to show new console at this years E3 in light of current console sales?

No, thats why I'm mostly leaning towards a E3 '13 Announcement. Sense both the HD Consoles are still doing well I don't see why they can't release in Holiday '13 or sometime in 2014. Nintendo needed to announce a new console though.

Yeah I agree...i picked E3 2013.

I think both MS and Sony were hoping for an extra long gen (i think they were targeting 2014/2015 for the earliest to bring next gen), which imo would have done good things for the industry. Games like cod, assassins creed, gears, gta, halo etc all maintaining high sales, while giving other developers time to be more creative with their games, given that theyd be releasing to consoles with an established and active audience. We might have been able to have seen more games like The last of us etc. So i think in secret they were also hoping for continued success of the Wii.

Now that the wii is slowing down drastically in sales, Nintendo had to do something leading to the WiiU. Microsoft wont want to even chance losing ground to any competing console this time round, surely they have their sights on being number 1 ww next gen. Im not exactly sure what position sony is in, but im sure they have similar sentiments. Now we looking at 2013/2014 releases for the latest, for MS and sony next gen systems.

The problem is...these reveals at E3 etc. only really get attention from "hardcore" games and id say generally people who have an interest in gaming. Its not like casuals all saw MS reveal kinect at E3 and said they wana buy it, im pretty sure they saw tv ads, and in store displays etc. So a tease or a reveal like this is really only meant for or should i say it will only get the attention of a certain consumer.

For both MS and Sony this can be a problem since that exact consumer is their target consumer, less so for MS now that they have kinect. My point is a tease or even a reveal will be known throughout the gaming community. And potential buyers that fit this demographic might decide to hold out a year or two. I think thats what MS and sony (definately Sony) want to avoid.

Dunno about Xbox3 but I think PS4 will be announced at TGS 2012 for end of 2013 release in Japan only, Q1 2014 for the rest of the world.

720: "unofficial" announcement around CES 2013... full announcement / unveil at E3 2013 for holiday 2013 release.

PS4: Murmurings around E3 2013, possible announcement around TGS to steal M$'s thunder... no release until 2014 sometime, with full unveiling and launch lineup at E3 2014.

I think the NextBox will be released Q1-Q2 2013 and the PS4 will be released Christmas 2013 or maybe Q1 2014. I really can't wait to see what Sony and Microsoft have up there sleeves. I'm also looking forward to the full reveal of the WiiU at E3 2012. I hope they change the name though....