It's becoming more and more prevalent that we will be getting a new console from Microsoft in the near future. Whether you're ready for it or not it's coming and you may not like some of the discussions going on about what the console is supposedly going to have.
Microsoft's next console will require an internet connection in order for it to function properly (accompanied with a new iteration of Xbox LIVE). This means that there will be no second-hand game market (GameStop, GameFly, RedBox, etc...). According to sources with first hand experience with the console, the console will still have games in disc form in addition to the shift to an online focused console. The disc based titles will come with an activation code that will only benefit the initial user and render the disc useless afterwards. Something that Sony is also rumored to be using with the Playstation 4. The disc based games will be manufactured 50 GB Blu-ray discs and it's no surprise that Microsoft would move over to that format especially after HD-DVD didn't bode too well for the Xbox 360.
Rumored console specs are also said to be true according to a source that has informed Edge-Online. This means an an AMD eight-core x64 1.6GHz CPU, a D3D11.x 800MHz graphics solution and 8GB of DDR3 RAM will be in the console. There's no word on the amount of hard drive space but it's safe to assume that it will be around what the current consoles have now, 250-320GBs.
With all that, there will also be a new Kinect that will ship alongside the unit.