Microsoft is set to unveil its next generation gaming console previously dubbed as Durango.  There are many rumors regarding the big reveal, and in just a few hours, everything will be clarified – hopefully, unless Microsoft decides to do a Sony and just reveal a controller and talk about how awesome the non-existent device is.

Anyway, let’s look at what people are expecting to see at the Xbox event starting at 1pm Eastern or 10 a.m. Pacific today.

What to expect at the event

The name will be announced

Durango, though it sounds kinda cool and reminds me of a computer animated tale about a chameleon, will most likely be swapped for something like the Xbox 720, just XBOX, or any other name that would make the brand Xbox sound a lot cooler.

Xbox Live news

Microsoft has been very vocal about its intentions for Xbox–to be a total entertainment package.  Xbox is no longer about the games, it’s all about the entertainment.  Xbox is no longer for gamers only but for everyone who likes the occasional gaming with buddies, recording TV shows, streaming content from the internet, and now, even ordering from Pizza Hut.  More announcements such as more content for Xbox Live is expected at the event.

IllumiRoom showed off

The Kinect revolutionized the gaming experience and Microsoft aims to blow your minds with IllumiRoom, a technology that would deliver a whole new immersive experience by transforming your living room and making it a part of the game.  It’s like making your TV screen bigger, but better.  If delivers effects such as pulsating when you shoot at something or get shot at so you’ll really feel like you’re in the game.

Though people will be expecting Microsoft to release information about the next Xbox’s price and release date, it is doubtful that it would happen during today’s event.  Microsoft might give vague details and will probably release more information at E3.

Though the big reveal will be happening soon, that doesn’t mean that the Xbox 360 will soon be forgotten.  Not everyone can afford to quickly replace their beloved gaming console.  Services know this fact and there are some recent releases for the Xbox 360.

Deezer, the on-demand music service, just released its Xbox 360 app that features a large grid for music genre, the player at the bottom, tabs for Search, Home, What’s Hot, My Music, Radio, Connection and Settings, and on the side you’ll see your personal preferences in My Playlist and My Album.

Twitch also recently launched its app for Xbox 360 Gold subscribers which is a video game broadcasting and chat community that allows gamers to broadcast videos of the games they players, discover videos of other gamers, and learn from them or make fun of other gamers.

And you already know about the Pizza Hut app that allows Xbox 360 users to order right from their gaming console.  They can even use Kinect to customize and place their orders if that’s what they want to do.

So, are you ready to see the new Xbox gaming console?  What other announcements are you expecting from the event?  Will the Xbox 360’s price be dropped?  We’ll find out more in a just bit.

Check out Microsoft’s Big Announcement Today Will Cover Next Gen Xbox, How to Tune In for tips on where to watch the event, and Microsoft Xbox News – Will All the Questions be Answered? for SiliconANGLE’s rumor roundup.