So the next generation Xbox360 announcement is scheduled for today, and it's going to be interesting on several fronts.
From a hardware platform perspective, there are all the questions about processors and such, but a bigger deal might be whether the platform is online only. Today's software is distributed through the cloud, enabling businesses to reap larger profits and avoid costly distribution infrastructure expenses, but not everyone is wired with a fast broadband connection. There have also been rumors that you wouldn't be able to play unless you were connected online. If this turns out to be true, it might be an issue for some as well.
Perhaps a broader question relates to the overall roadmap of the platform. While Xbox360 and Xbox Live sail along, the Surface tablet series has been dragging like an anchor. There have been rumors that Microsoft might use the new Xbox platform to try and raise Surface out of the depths. Will the new XBox be the savior and driving engine for some of the other product lines? Only time will tell.