There are actually a lot or rumours circulating around Microsoft unveiling a successor for the 360 at one of the major gaming conventions later this year. The PS3 was always slated for a full decade life cycle though, so I wouldn't expect a major announcement from Sony.

I figure it's 70/30 odds that we'll hear of a new MS console this year. It might not launch until later next year but I'd be more surprised if they remained silent.

I wouldn't put much stock into the rumors.

Here you have a "100% concrete, ultra high level" source saying both the new Xbox and PS would be announced at E3: http://games.ign.com/articles/121/1215948p1.html

...Annnnnnd 4 days later, Sony themselves denying said rumors: Sony Executive Says No PlayStation 4 at E3 2012 - PS3 News at IGN

Not saying you're wrong about your predictions by any means, just that the rumors are usually started by sites looking for a bit of advertising. :pssst:

I definitely agree with that sentiment. I'm just thinking with the hassles and issues MS had with the 360 launch and the entirety of their initial production run being essentially guaranteed to red ring eventually I'm a little more inclined to believe they'd be looking at launching a successor sooner than later. Especially where Sony has been very clear and adamant about their product life cycle, it would also allow MS to launch without any real competition both in the marketplace and on the horizon.

Personally I was intrigued by the Wii-U until Nintendo stated that their system would only support a single tablet. Now they're unsure whether or not that original limiting statement was accurate so... how are developers supposed to plan ahead and design products if the manufacturer can't be clear about the device? My first thoughts at seeing it were casual / social MP games where each player can have a unique personal screen on their tablet while a main game area for the group is displayed on the tv. Like the next step up from the GBA connectivity on the gamecube (anyone who played Pacman on the cube with a connected GBA knows exactly the kind of awesome I'm talking about).

Google is your friend :).

So it sounds like the Xbox 720 is coming Fall 2013, and is "six times as powerful as current gen".

Link: Xbox 720 Will Be Six Times as Powerful as Current Gen - IGN

I'm gonna have to make up my mind whether I want to go Sony or Microsoft next gen (or both).

I think about this every time a new machine comes out, but always end up buying both anyway.