In the second-to-last edition of Xbox World magazine, the plethora of research and coverage they've attained on the current status of Codename: Project Durango will be revealed. If you don't know what Durango means, it's the development title given to the long-awaited and highly anticipated "Xbox 720." We all know a reveal is set for E3 2013 and we're even likely to see a working prototype at the event, but for now we can settle for a tiny bit of very real information.

There's a lot of speculation going into this console from whether or not it'll have a blu-ray reader to what kind of CPU and GPU we'll see. All signs lead to "yes" on the blu-ray player as well as a very powerful, for a console that is, 4-core processor and dual graphics processing. There's also a lot of talk regarding a fight for augmented reality glasses and even built-in or included Kinect 2.0.

The reveal will happen soon on an 8-page feature on Xbox World's December issue. You bet i'll be covering it as well as doing some of my own personal analysis. With the industry in a minor free fall, new hardware from both Microsoft and Sony might just save us and lord knows gaming companies WANT to invest in games releasing on new hardware. Stay tuned for all the news here! Don't forget to click the jumper to see the mock-up of the DEC-JAN issue's front page.