Xbox Next/Xenon/360 - Will be the first out, but also possibly underpowered. It seems Microsoft is going to base it's features around online. Instead of a harddrive, all your information will be saved in an account on Microsoft's servers. With this, you will be able to 'customize' your games buy buying/downloading extras, i.e. cars, maps, weapons, cheats, ect. All this will be saved into your account, along with music and other media. Also, they're guessing that games will still come on regular DVD-9s. Most people are expecting it to be the first system out of the gates, arriving by Xmas 2005. I don't think I like really any of these decisions, but I'll probably end up getting one just for Halo 3.
PS3 - Supposedly, Sony's "cell" processor will operate at well over 4 ghz. The disc drive will utilize Blu-Ray technology. Both of these outclass the Xbox Next's current specs. If they can keep the cost down and the workmanship up, I think this will be the system to beat, depending on how well Microsoft handles its head start.
Nintendo Revolution - While the specs of the unit aren't really known, apparently Nintendo is going with 'buttonless' controllers, which instead use a touch screen. No shoulder buttons, no analog sticks - just a screen. Not sure I like this idea, but I haven't really liked any of Nintendo's decisions for quite some time. Unless Nintendo can pull a rabit out of its hat, I think they'll get crushed and this will be their last console.
