Next Xbox called Loop - Specs revealed?

Xbox 360 has been on shelves for six years in North America, which is two years older than when the original Xbox was replaced. There has been lots of talk about Microsoft has been quietly working on it's Xbox 360 replacement. According to MS Nerd blog, the next Xbox will be called “Loop”.

Here are the rumored specs:

"With a heady mix of rumors, tips and speculation, I am now stating that Xbox codename 'loop' (the erstwhile XboxTV) will indeed debut a modified Win9 core,” wrote the MS Nerd in a recent post, further stating, “It will use a Zune HD-like hardware platform—a 'main' processor with multiple dedicated assistive cores for graphics, AI, physics, sound, networking, encryption and sensors.” It's reported that the new console will be smaller and sell for less than the Xbox 360, which makes it perfect for “Kinect adaptation”.

At this time there is no launch date, and it is not likely to be officially announced anytime soon. Up until now, the 360 replacement has been called Xbox 720 has been the nickname, but I have to admit that the “Loop” sounds like a pretty cool codename.

What do you think about the alleged name? Do you think that the Xbox 360 even needs to be replaced yet?