According to the XDK leak on VGLeaks:
720 is an Always On, Always Connected device - requires internet connection
All games will require installation, but can be played instantly during the installation process
Playing software from the optical discs will not be supported
All second-hand software will be blocked
All consoles will come with a harddrive of sufficient size
Blu-Ray disc format
A new high-fidelity Kinect sensor included with every console - this is required for the system to operate
New controller featuring improved ergonomics and low-latency wireless connectivity
The next Xbox, codename Durango, is said to utilise an AMD eight-core x64 1.6GHz CPU, a D3D11.x 800MHz graphics solution and 8GB of DDR3 RAM.
Microsoft will hold an event in April to showcase their new console.
http://www.vgleaks.com/durango-xdk/
( Edited 20.03.2013 11:24 by Linkyshinks )