Ooops: Can a mod plz fix my title "Oct '12" to "Oct '13" 
The latest rumours circulating are that the PS4 could be launched in October 2013 and the Xbox 720 could be November 2013. Both costing $350-400 SRP price bracket.
Both said to be built from off the shelf high-end PC parts. For ease and speedy development and shorter learning curve.
Both to be unveiled at E3 in June 2013.
Sony have been on record for saying that they're not going to let MS get the launch lead they got with the Xbox 360.
Looks like the battle between the 2 is about to heat up. Just a waiting game to see how these rumours stand.

The latest rumours circulating are that the PS4 could be launched in October 2013 and the Xbox 720 could be November 2013. Both costing $350-400 SRP price bracket.
Both said to be built from off the shelf high-end PC parts. For ease and speedy development and shorter learning curve.
Both to be unveiled at E3 in June 2013.
Sony have been on record for saying that they're not going to let MS get the launch lead they got with the Xbox 360.
Looks like the battle between the 2 is about to heat up. Just a waiting game to see how these rumours stand.
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. Its not a surprise that this generation is full of sequels, I just cant see the next one having less considering the kinda money it takes to make a AAA game nowadays. Takes quite a ballsy publisher to back new IPs and theres very few of those around, when the same rehashed rubbish makes them just as much money if not more...