Microsoft's IllumiRoom can best be described as a platform that uses the Kinect and a projector to combine virtual and physical worlds.

Last month, technical analyst Paul Thurrott accurately predicted that Microsoft's long-awaited Xbox 720 (Next) console would debut on May 21. This week, Thurrott reported that the next-gen console is powered by a core version of Windows 8.

Nintendo may have released it's next-gen console almost a year ahead of Microsoft and Sony, but it is quite clear that most core gamers are waiting for the Xbox 720 (Next) and the Playstation 4 (PS4).

A number of reports circulating over the past few weeks have claimed that Microsoft's upcoming 720 (Next) console will require an "always-on" Internet connection for games to load.

Microsoft has spared little effort in transforming its flagship Xbox 360 into a versatile entertainment hub, making the system much more than a gaming console.

The industry has long suspected that Microsoft's upcoming Xbox 720 (Next) would not be offering backwards compatibility with older 360 game titles.

Paul Thurrott - a blogger with extensive industry connections - says Microsoft's upcoming Xbox 720 (Next) will be priced at $300-$500.

The Playstation 3 may have offered gamers plenty of raw horsepower, but the last-gen console was notoriously difficult for coding devs.

I've always believed many hardware engineers and game devs simply don't understand that a huge amount of people in the United States live in rural areas.

Outspoken Atari founder Nolan Bushnell believes Microsoft will triumph over Sony in the upcoming console wars that will pit the Xbox 720 (Next) against the Playstation 4.

A number of reports indicate Microsoft's upcoming Xbox 720 (Next) console will be saddled with an "always on, always connected design" that supposedly allows users to "quickly and easily enjoy their connected entertainment experiences, with no waiting for the console to restart or install updates."

A prominent French-Canadian video game designer has confirmed that Microsoft's upcoming Xbox 720 (Next) will be "aligned with what Sony announced."

Sony may have redesigned its flagship controller for the upcoming Playstation 4 (PS4), but it seems as if Microsoft has chosen to leave its Xbox 360 controller mostly untouched.

Screenshots culled from a Durango software development kit (SDK) appear to validate earlier claims that Microsoft's 720 (Next) console will require a persistent Internet connection and block second-hand games.

Microsoft's Xbox 720 (Next) console is slated to make its long-awaited debut at E3 2013 in Los Angeles this June.

Nintendo may have kicked off the next-gen console cycle early with its Wii U, but the real battle will obviously take place between Microsoft's Xbox 720 (Next) and Sony's Playstation 4 (PS4).

GameStop has confirmed that it's experiencing "strong demand" for Sony's upcoming PlayStation 4 console, with 600,000 members of the retailer's PowerUp Rewards program signing up for the PS4 "First to Know List."

Microsoft remains on track to reveal its long-awaited Xbox 720 (Next) console this June at E3 2013 in Los Angeles.

We already know quite a bit about Sony's recently announced PlayStation 4. However, official details about Microsoft's Xbox 720 (Next) are few and far between.