What people have to realize about any new consumer device like 4K native bluray players is that there is a marke-up on the price of that tech at the retail side of things, so as a customer you're paying more on top of what the tech actually costs so these companies can make money off of that risky new piece of technology.
New GPU chips usually only account for about one third of the overall cost of a new Graphics Card, so Microsoft or anyone console maker likely can do it cheaper than say the dedicated Bluray Player makers because they can supplement profits elsewhere like from software and their multiplayer subscription services or other XBox/Playstation media services.
This is just a new end user device.
The world will just see this as a slim XBox One, so I doubt Microsoft would go that high price wise. It's still a device in competition with the PS4, sure it has 4K native disc playback, upscaling, HDR and a 2TB HDD, but it still has to sell.
I wouldn't be surprised if it is $299-$349, which is a much easier pill to swallow than $449, especially for a system that doesn't play games better than PS4, unless the XBox One S has a faster CPU and GPU, plus more eSRAM on die (which is possible if Microsoft have shrunk the process down from 28nm to 14nm).
Too me it makes little sense for a 1.3Tflop console to still only be 40% smaller than the launch XB1, it should be about that size even with 2X the horsepower of the launch XB1.
Regardless the design is very nice IMO, I hope Microsoft has a good reception with this.
I'm also hoping that they still have some surprises, it was an utter travesty that so much of their surprises for their E3 have been leaked.
Seeing new gameplay will be good, I suspect they have at least a couple of fresh new titles, like New IPs that haven't been leaked for this show or maybe some partner studios are working on new entries for older classic franchises.
Not long to wait now. :D
