It’s been eight years since Microsoft launched the Xbox 360.  Obviously that product has been a massive success for a company that is not widely known as a consumer company.  Today we’ll hear what’s next as the company is set to launch its next generational console.  We’ve postulated and curated rumors throughout the past year or so, it’s a popular topic – so there’s certainly a lot of built-up anticipation.  It will be interesting because in the past Microsoft has publicly done some things wrong (as what happened in Japan) with the Xbox and many other things right.

UPDATE – Here’s the live feed starting at 1pm EST- http://www.xbox.com/en-US/hub/reveal

All the predictions, the leaks, the rumors – all of that will be settled with today’s announcement.  Among the things that will be settled is the name of the new console.  Long developed under the name Durango, there have been rumors about the name from Xbox 720 to Xbox Infinity.  Interestingly the name Xbox itself is derived from the fact that the system was spawned on the DirectX platform.  The console has clearly moved on past that to encompass so much more.  Still, we can count on the name Xbox to stay – it’s just too big of a brand.

We’ll also hear about specs today.  How true will the system be to x86 architecture?  We’ll hear all the technical goodies including RAM configuration, multi-core processor, Blu-Ray capabilities and more.  There’s been discussion that the new console is built from a Windows 8 base.  We postulated nearly a year ago that could have ramifications for cloud gaming services, utilizing Azure and RemoteFX enhancements.  Does that mean we will also see the now-famous Windows 8 tiles?  What about Skype or even Office 365?  It would make sense to have a similar experience in some respects and I believe Skype could be that killer app that gets the new Xbox over.  Also in play are the controllers which are generally lauded for their great features in the current generation.  Changes to the controllers will likely be mild based on that fact.  There will also likely be a new Xbox environment on the screen, and we’ll see further integration of social, commercial and gaming in that environment.  Kinect is a clear Microsoft success, and we may see an evolution of that today as well.

We have heard a lot about DRM and the new Xbox needing an “always on” internet connection in order to play games.  This became a controversy that will be settled undoubtedly today.   Also when Microsoft announced the Kinect they demoed games that went with it.  So it isn’t much of a stretch to say that some games will be on display, but this event is all about Xbox so don’t expect a rundown of dozens of games just yet.

For some time, the Xbox has been a focus of Microsoft’s to getting more and more integration in entertainment, a family console.  That has meant enhancements to Xbox Live, Netflix integration, and other things meant to deliver on that promise.  Rest assured that something on this front will be announced or previewed as well – It could be streaming music, Windows 8 apps, another video service.   People are also hopeful that the new console will be backwards-compatible so that Xbox 360 games could be played on the new systems.  They didn’t do that last time, so it remains to be seen.

Lastly – When can people get it and what’s it going to cost?  Count on a launch that will be timed for the Christmas season.  The price will be competitive and introductory of course meaning that it will certainly be above the current Xbox pricing and competitive with its rival Sony Playstation 4 which is launching around the same time.   One last note is that Microsoft will most certainly be sharing what the console looks like, countered to a bizarre “launch” by Sony earlier this year where not one image of the new console was visible.  In fact, today’s Xbox announcement may prompt Sony to at last reveal what their console will look like sometime soon in response.