By Keerthi Chandrashekar ( | First Posted: Dec 06, 2012 10:40 AM EST

(Photo : Xbox World)

Nothing official has been confirmed by Microsoft about the next-gen Xbox, dubbed the 'Xbox 720' or 'Durango,' but plenty of rumors and supposed spec leaks are making their rounds on the Internet. Here's a look at what the Xbox 720 could be, if these all turn out to be true. 

Before going out of business, Xbox World Magazine released a huge spread detailing all that they know about the Xbox 720. 

"Xbox World has been at the cutting edge of Durango coverage for over 12 months. Unless something really dramatic changes, everything we reveal in our penultimate issue will be revealed long before E3 in June," said Xbox World editor-in-chief Dan Dawkins told CVG.

According to Xbox World, the Xbox 720 will utilize Blu-Ray discs for the first time in order to gain access to higher storage capacities. The console will also not only have the standard TV output, but a TV input as well, which should allow for DVR-like recording of broadcast television. 

The Xbox 720 should also help launch Kinect 2.0, the next iteration of the Kinect motion-gaming system. Kinect 2.0 has been reported to be accurate enough to read lips. 

If the Xbox 720 features similar specs to the Durango dev kits that have been sent out, then the next-gen Microsoft console should come with a quad-core processor and 8GB RAM. A recent tweet by well-known hacker Marcan stated that the Xbox 720's processor has been clocked around 1.6GHz. 

Microsoft will also be releasing a cheaper, set-top version of the Xbox 720, according to a recent report. This version should be more entertainment based, and offer casual gaming. 

A Bloomberg report revealed that Microsoft plans on releasing the Xbox 720 by the 2013 holiday season. There is no word on whether Microsoft will unveil the next-gen Xbox at E3 2013, or hold a separate launch event of its own.  

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