Aparently there was a new console announced at GDC.  It's called OnLive and takes a new approach towards at home gaming.

"Unlike current consoles like the Sony PlayStation 3 or Microsoft Xbox 360 -- or even the PC -- OnLive will have all the graphics, assets and game play taking place on its servers and then streamed in real-time using a special interactive compression technology that took seven years to develop.

Set to launch in winter 2009, OnLive is aimed at the more than 70% of U.S. households with a broadband connection. The company plans to charge a monthly subscription for access and then offer a number of different pay programs ranging from rental to outright purchase of games."

Interesting concept, I wonder if it might actually catch on.  Or is the industry too competitive for a new console?

Source

Official site: Onlive.com

Yes, this is in the news section on the front page, thank you. :p

Haha, I saw that after I posted =(. 

I am actually pretty interested in this thing though.  Its a new design concept in the videogame industry.  They host all the games and have all the processing power and are responsible for updating it.  You just pay a subscription fee and play.  Of course all it would take to fall flat would be a few server errors on their end and people would be pissed. 

Its hard to imagine them doing well in the U.S. though.  There are already so many gaming systems available, they will have to do some good marketing just to get people to try it out. 

I think its a neat concept.