Xbox 720: Kinect 2.0 and TV recorder
The Xbox 720 is going to be a fancy piece of kit and will come with a new version of Kinect, a Blu-ray drive and an A/V port for watching and recording TV, according to various rumours.
So what is Kinect 2.0? Basically, the next-gen device will have better voice recognition, higher accuracy, stereo imaging and the ability to track four players at the same time (if you believe the leaked Microsoft document that has been floating around).
As for the Blu-ray drive, you'll know what that is.
However, what is pretty exciting is the TV input/output, designed for recording telly shows and an "innovative controller" which has been rumoured to feature a built-in HD touch screen.
There are also rumours about augmented reality glasses for the 720 too, which is massive, if unlikely, news.