While everyone winds down for Christmas, some hard-working software engineers will surely be burning the midnight oil over the festive season, thanks to rumours coming from SemiAccurate.com this morning.

They're stating that the next-generation Xbox's test system chip - codenamed "Oban" - is all but complete and ready to be passed out to developers, meaning that they'll be working hard to get their software running smoothly. Doubtless, they'll be working on things to show off at next year's E3 in June, where the new console is pretty much certain to be unveiled.

The new system - codenamed "Kryptos" (meaning "hidden" in Greek) - is rumoured to launch with a new version of Kinect, dubbed "Kinect 2.0", with that new Kinect hardware potentially bundled with every single system sold. There's a lot to be confirmed, and there will doubtless be a load of unfounded rumours flying around, but we'll be keeping our ears to the ground over the next few months for you to make sure you get the most up-to-date information as it comes out of Redmond.

[source semiaccurate.com]