There's been a crapton of rumors about next gen yet Sony and Microsoft have said nothing.  They both are obviously very close to release.  WiiU was announced the traditional year and a half in advance, and Wii sales (already declining at the time) took a nosedive.  Sony and MS don't want to repeat that so maybe they will reveal at E3 and release the same year.  We've already seen Sony announce and release Vita the same year and while it hasn't been successful I don't think that is due to the hype not being sufficient.  Even if Sony doesn't announce at DPS or GDC I still think they are gearing up for a 2013 launch and we have to believe there will be an E3 announcement.  I believe they reveal at DPS and MS reveals at E3.  They will both have sufficient hype by the time Fall rolls around.

it's just a matter of when they plan to release the systems. Even if they release it end of the year, revealing it now would be too early, especially given E3/GC/TGS are far away. I'm thinking a reveal around March..maybe end of February. Even then not much information.

All we have are rumors to go off of so I personally think their is a good probability of both PS4 and 720 coming out around the same time.

I'm not here to make a bold prediction, just an observation.  They usually announce over a year before they come out like WiiU.  Now they seem sure to release this Fall yet they didn't reveal last year and seem reluctant to even now.

It won't be as late as E3, but they will announce and launch in 2013.

Sony is not afraid of anything they will launch the PS4 to crappy numbers but it will pick like the ps3

No. Both are trying to get their console out as soon as possible or else the Wii U will leave them in the dust.

They're not saying anything because to put it simply it's better to have your cards close to your chest then bragging about what you have or intend to have. I can see a 2013 release for both companies because they simply can't allow the U to be uncontested for a whole year or more, hype doesn't dictate success but more a stand alone long term strategy and that's what has hurt Vita not lack of hype, the market is different in that raw specs may make some media outlets sing your praise but don't phase consumers as much as before and their silence is most likely them coming up with a long term strategy that doesn't rely on the notion of being the most powerful hw out.

there are so many games, exclusives and multiplats this year, most of them won't appear on wiiu, I don't know why people are so impatient about next gen, for me, GoW A., GTA5, Bioshok ininity, Gears judgment, the last of us, Crysis 3, MGR, DMC, LoS2, Tomb raider, The last guardian and FF XIII versus and etc, it's too early to talk about next gen, I still have a lot of games to enjoy this year.

those are first half.  You want a full dead year before the next gen comes?