Yes, I know this will most likely be an unpopular opinion. Even I can't believe I'm writing this article. (Me! The gadget and gaming geek!)  But it needs to be said, in light of rumors swirling around about these next-gen devices.

We don't need an Xbox 720.

At least, not yet.

Look, I love my Xbox 360 and Xbox Live. Even the PS3, which I spent most of 2011 with after straying from (then reconciling) with an Xbox 360 S, is an extremely capable gaming system.  There is still plenty of life left in these systems, if games like Rage are any kind of proof. The current generation of gaming consoles are priced right (in the $199 to $249 range), offer online connectivity and gaming capabilities, and have large fanbases. Judging by the reactions to Skyrim and Modern Warfare 3, games can receive blockbuster movie-type attention and critical success, even this "late" into their lifecycles.  Over this past holiday season, millions of gaming systems were sold- this, despite a weak economy.

Speaking of which, the economy being what it is (not great for most people), I don't see how it would make sense for Microsoft or Sony to release new consoles now. This is particularly true for the PS3.  A new console debuting from Microsoft or Sony could be priced in the $399 or higher range (unless they are willing to take serious losses), and that does not include games or peripherals. To fully invest in a new system, consumers may need to invest at least $500 or more.  A lot of gamers may not be willing to make that kind of investment right now. Take a look at Nintendo's 3DS and Sony's new PS Vita. The 3DS debuted (as will the Vita) at $249. For Nintendo, they were forced to drop the price $70 several months later due to weak demand. The Vita, already released in Japan, has been outsold by the older PSP model. Sony is particularly egregious in this area; not only are they releasing the new (and admittedly powerful) Vita at $249, they are also releasing a new proprietary memory card format for it, which will cost more than the MicroSD equivalents.  On top of that, this card will be required for certain games. This speaks of a certain hubris that can frustrate loyal gamers.

Will Microsoft succumb to this type of hubris? There are talks of the next Xbox featuring digital downloads only. Some reports put broadband availability in the US to 68%, making a digital-only Xbox could be a dealbreaker for a decent-to-large number of gamers. The skeptic in me says that this is to cut-out used game sales and force the consumer to pay full price for a new game every time (weren't we just talking about the economy?). This would also prevent people from sharing games with others. And the reality is it comes down to increasing their profits at the expense of flexibility for the consumer.

In the end, we'll have to wait and see what Microsoft has in store for the next Xbox. I'm sure it'll sell millions. I'm sure that it will be a huge success (barring some sort of huge misstep in design and / or marketing).

But I'm not in any rush.

When not filling up Inside the Circle with his own brand of crazy talk, Julio maintains a blog over at http://www.julioinprogress.com. You can also Like him on Facebook at http://www.facebook.com/jaowriter.