Dumb. They're gonna wait and their systems are gonna cost 500+ USD because they think people will pay that much for one.

We still don't know if they are.. If they were to show them, they wouldn't announce them 3 months ahead of schedule.....

If they don't plan on releasing a brand new console till Fall 2013 then obviously a smart move. The only folks that would think it's dumb are ones tired of this gen, but luckily their opinions doesn't reflect what Sony and MS do.

wouldnt be surprised if we dont see anything from them this year, think its smart anything shown would hurt current sales for both HW and SW, theres still great SW yet to released for those two consoles no need to rush things especially if the economy isnt ready

We area already head over heals in yearly releases.
At least with a new generation consoles, there is much more room for improvement at least in the graphics department.

How long do you think people will keep buying COD/Fifa/Madden/Just Dance/....etc. The new consoles need to release before these franchises get milked dry.

Well, we saw what Nintendo could do unveiling their console last year, so if they just go for a repeat performance, Sony and Microsoft are probably covered!

I'm not saying I don't want a new console because I do, but it would be stupid to announce something that will be release over a year from now. Announcing it now wont make it come any sooner.

if MS reveals it this year, its gonna kill 360s 2012 sales potential

I don't think the have to show anything

I agree, they will do something to try to steal Nintendo's thunder, even if it is prerendered videos of "target graphics", like telling everyone that the Samaritan video will run in real time in their next consoles and some similar videos, or something in those lines. Now if they don't do even that, I think they are very stupid, as the third party Wii U games will most likely look better (stable framerates, better AA, possible 1080p) or have more options/functionalities by the use of the controller.