Does it have a hard drive? Not clear. Microsoft may opt for flash memory instead, rather than the traditional hard drive found in the current Xbox, but this has yet to be confirmed.
How much will it cost? Xbox 2 is expected to break beyond the traditional launch price for new consoles, which has stood at $299. It could be as high as $350-$400.
What cool features could we expect? Wireless functionality and improved high definition outputs, downloadable content (and other broadband-centric features.)
Some questions, however, still remain unanswered:
The big questions, at present, revolve around whether Xbox 2 will be backwards compatible (in other words, will it be able to play current Xbox games?)