Saturo Iwata, the president of Nintendo, made it clear in a Japanese marketing event that the next-gen Wii (codename: Nintendo Revolution) would have a “virtual console” service via the internet.  This “virtual console” he speaks of is essentially an online method of browsing and downloading retro Nintendo hits (think of all those old Zelda, FF, Mario, and Metroid games) for the reasonable price of $4.50 to $8.99 USD.  Contrast that with the outrageous sale prices of retro games for the GameBoy, which sold anywhere from $20 to $40 a piece!  With great anticipation, ArsTechnica adds that “[u]nfortunately, we still don’t know when the Wii will launch or how much it will cost. Iwata said the launch date and final pricing for the Wii will not be announced until September.”

Even though they’ve thrown in two bonus accessories (Play and Charge Kit and the Rechargeable Battery Pack), it’s not worth the egregious price hike. For $800, couldn’t they at least include a game?

Engadget

Xbox 360 brings out the worst in people
Users report Xbox 360 “crashing like mad”
Unpacking the Xbox 360
Xbox 360 gutted!
Engadget Podcast 053 – 11.22.2005
Xbox 360 backward-compatibility list (1.0) released

Joystiq

Microsoft to sell 3 million 360’s by year’s end?
Joystiq Review: Kameo: Elements of Power
Xbox 360 launch day blues
Xbox 360 launch — Midtown style

The Setup
Unpacking the Xbox 360; hot unboxing action
Our sweet test setup
Our sweet speaker setup
Our sweet screen setup
Fuel for a 48-hour gaming fiesta
Blockbuster & Hollywood Video: 350 what?

The Hardware
Joystiq, PGR3 and faceplate. PGR3 and faceplate, Joystiq
Invasion of the Xbox 360 faceplates
Xbox 360 controller range: Can you hear me now?
Side-by-side of Xbox 360 remotes
Titlefight: 480p v. 720p for the championship!
Parasitic Play-and-Charge controllers get juice from Windows, but Windows gets nothing in return
Xbox 360 heat concerns are no concern
Xbox 360 fan noise ranked

The Services
Visualize this: Xbox 360’s visualizer taken for a spin
Game trailers available on Xbox Live
Live: best way to download game trailers
Best and worst trailers from Xbox Live Marketplace
Gaming trailers are insulting to gamers
360 plays videos, but controls are lacking
MP3s streamed to Xbox 360 via laptop
Xbox Live arcade titles added: free to try, $5 to $15 to buy
Our first Xbox Live friend: you like us, you really like us
Joystiq Guide: iPod on the Xbox 360

The Games
3 copies of Kameo = MS wants us to play it
2K on the 360: NBA 2K6, Amped 3, & NHL 2K6
Joyswag caption contest: win a copy of Kameo
Joystiq review: Geometry Wars demo
Joystiq review: Bankshot Billiards 2 demo
Joystiq review: Gauntlet demo
Joystiq review: Hexic HD
Are we perverse? There’s nothing retro about this experience!
Joystiq review: Joust demo, thy game is over
Joystiq review: Bejeweled 2 Deluxe demo
Kameo’s in the house, er… 360 tray
Super-frustrating boss fight in Kameo
Joystiq is better than GameSpot
And the best Xbox 360 launch title is…

Xbox 360 Fanboy

Nintendo and Sony line up in support of Xbox 360 launch
Quake IV struggles on the 360
PDZ upgrades planned through Xbox Live Marketplace
Some games not backwards compatible?
MetaReview: Perfect Dark Zero
It’s here!
Xbox’s corporate celebrities
Line up to meet Bill Gates (he’s dreamy)
Ebay catches the 360 fever
Xbox 360 as Long Tail video platform
HDTV Buying Guide: Xbox 360 Edition
Get podcasts on your 360
Microsoft’s hype machine is still rolling
What’s TSOP doc? Is the 360 hackable?
Square Enix responds: No FF and DQ on 360
All “aboard”: touring the Xbox 360’s motherboard
Make your own Xbox 360 VGA adaptor
Microsoft Game Studios GM Shane Kim Speaks!
Xbox 360 Loves Halo 2

Kotaku

360 Crashes and Crime
Didn’t Get a 360? Here’s Five Things to do
Xbox 360 Premium Set Going for $100,000?
Yet Another Guess on Cost to Make 360
Mossberg Misses the Mark on 360 Review
Xbox Live’s Free Videos
Microsoft Eats $126 of Every Xbox 360
Hours Old and PGR3 Crashing Like Mad
Xbox 360 Gets Executed
Best Buy Sold-Out Shenanigans?

Slashdot

MS Responds To 360 Glitches
How The 360 Works
Microsoft Loses $126 Per Unit on XBox 360
Xbox 360 Launches In U.S.

1Up

Xbox 360 Officially Launches in North America
Lining Up for Xbox 360
Microsoft Loses Money With Each Console – Again
Perfect Dark Zero Tops Most Anticipated Xbox 360 Game List
Challenge J Allard on Xbox 360

1) The Xbox 360 has been rumored to feature in-game ads in order to subsidize costs. This rumor started when Bryan Lee, chief financial officer of Microsoft’s Entertainment and Devices subdivision, hinted the possibility of partial costs of the Xbox 360 being subsidized by ads, in certain extra-North American markets (yes, it’s quite vague).

2) The Xbox 360 has been rumored to support custom, in-game music . The rumor was specifically that

at any time, during any game, the player could access a custom music selection and stream it into the playing field. However, speaking at Atari’s GoPlay event in Lyon, an Eden Studios representative suggested that developers could control the use of custom music, just like on the original Xbox. He stated that Eden would not allow players to stream in their own music during the studio’s upcoming horror-themed action title, as doing so would ruin the ambience of the game.

This is a smart move for developers, and hopefully they will be equitable in their judgments concerning the extent to which the player is able to control his music.

3) The Xbox 360 will have a high-resolution software emulator, enabling the 360 to be backwards-compatible with many of the original Xbox games. Below is Halo 2 emulated on the Xbox 360:

4) Tying in with the last tid-bit, the Xbox 360’s software-emulator seems to be region specific, with the number of original titles supported on the 360 seemingly proportional to the general popularity of each region:

while the US Xbox 360 will be compatible with over 200 Xbox games right out of the box, [...] the Japanese list featured a paltry 12 games. Do these number corollate with the popularity of the console in each region? It might appear that way, especially with the list of European Xbox games compatible with the 360, released today.

The list features 156 games – not as many as the US, but still 13 times the number of BC Japanese games. The list, as with all regions, will be constantly updated as they get more original Xbox titles to work on your 360.

It seems like Microsoft is trying to compensate for their overly generous Japanese Xbox 360 Lounge.

5) Here’s quite a negative rumor, and it’s a bit disappointing. “Every single Xbox 360 launch title is single threaded. Apparently during a talk on multithreaded programming, a Microsoft speaker mentioned that all first generation Xbox 360 games will not take advantage of the Xbox 360’s two other cores. This probably isn’t worrying Microsoft too much, since they’ve given developers plenty of time to perfect their games before the PS3 and Revolution launch sometime next year.” Despite that many preview screenshots of the launch titles are breathtaking, it’s troubling that the games could be, in theory, three times the quality. Here’s a few choice screenshots of launch titles:

Test Drive:

Madden:

Elder Scrolls IV: Oblivion:

Need For Speed:

6) So while the Xbox 360 seems to be the clear choice for any enthusiastic gamer, the NY Post (via Joystiq) gives 5 good reasons why not to buy the Xbox 360 on the launch day:

1) Too expensive. If you want backwards compatibility a la the hard drive, it’s gonna cost at least $400 bones.
2) Lack of games. Most console launches suffer from a lack of games, the 360 is no different.
3) Wait and see what the competition will do. Before you rush out and buy one, learn a little more about PS3 and Revolution. Also, a mini-price war is eminent.
4) Hidden costs. Don’t forget the cost behind an HD set and your Xbox Live monthly subscription.
5) Older consoles are not dead yet. The GameCube, PS2, and original Xbox still have and will continue to have quality games for at least 6 more months.

It should be noted that these reasons are applicable to any new console release in the video-game industry. Given that the 360 is a ground-breaking system, I feel that it would be money well spent for the hardcore gamer.

7) Microsoft has officially released the launch-titles in North America, so no more speculation! Here’s the big 18:

Amped 3 (2K Sports)
Call of Duty 2 (Activision Inc.)
Condemned: Criminal Origins (SEGA Corp.)
FIFA Soccer 06 Road to 2006 FIFA World Cup (Electronic Arts Inc.)
GUN (Activision)
Kameo: Elements of Power (Microsoft Game Studios & Rare Ltd.)
Madden NFL 06 (Electronic Arts)
NBA 2K6 (2K Sports)
NBA LIVE 06 (Electronic Arts)
Need for Speed Most Wanted (Electronic Arts)
NHL 2K6 (2K Sports)
Perfect Dark Zero (Microsoft Game Studios & Rare Ltd.)
Peter Jackson’s King Kong: The Official Game of the Movie (Ubisoft)
Project Gotham Racing 3 (Microsoft Game Studios & Bizarre Creations Ltd.)
Quake 4 (id Software and Activision)
Ridge Racer 6 (Namco Ltd.)
Tiger Woods PGA TOUR 06 (Electronic Arts)
Tony Hawk’s American Wasteland (Activision)

Here is the official European line-up.

Joystiq has covered the Xbox 360 allocations for Best Buy by store:

Wanna know how many Xbox 360s are coming to your local Best Buy? Find your store number(s) off Best Buy’s official store locator, then check out the list for the right store for you to camp out next to on the 22nd or 21st.

Of course, knowing how many units have been allotted to the store of your choice doesn’t guarantee you a system on launch day, but it is touching to know that being an official launch sponsor does indeed mean more boxes at launch than the other guys (up to possibly a tenth of total U.S. numbers).

So if these figures are correct, Best Buy’s getting 40,770 systems in the U.S. total, split exactly 70-30 among Pro and Core systems. And as for those few anomalous stores with at least 100 Pro and 30 Core units? Just those among the 12 Best Buys around the nation slated to open their doors at midnight to sell the 360

9) The ninth point on this list isn’t a rumor or detail; it’s a resource. For any fanatic willing to shell out the big bucks, eBay auctioneer richman723 is offering to “fly to your location, camp out for 24 hours in front of your local XBOX 360 retailer, and personally deliver the new game system to your front door on release day next week.” With one day till the auction closes, you’d better hurry down to your bank and make that bi-weekly deposit, because the auction is over $2,100. But if you’ve got the moolah and you’re too lazy to get one for yourself, richman723 is the man…

With all the previous details in mind, we can expect support for our High-Def TVs, control over what we listen (to some degree), and a plethora of other benefits. This will be unquestionably the biggest and most demanded gift of the holidays.

Joystiq reports what they know about the Nintendo Revolution. If what they say is credible, which I believe it is, then the Revolution might be the best new console. Here are the details:

Release is sometime in 2006.
Prototype shown is larger than final unit.
Nintendo is still determining final colors for the console.
All-Access Gaming, which refers to backwards compatibility to 20 years of Nintendo games, NES, SNES, N64. We don’t know particulars of how it’ll be accessed or what, if any, the cost structure might be.
Downloadable to 512MB of flash memory.
SD memory card slot.
Wireless controllers.
Two USB 2.0 ports.
Built-in WiFi.
WiFi used to interface with the DS.
DS likely to enhance future games.
Self-loading optical drive that will play 12cm Revolution discs and smaller GameCube discs
Self-contained attachment for playing media content, including DVDs.
No controller was shown. So even though the box looks a lot like the one leaked over the weekend, the accompanying controllers were not presented. So was it a leak, or a really good guess?

Engaget also covered the E3 Nintendo Revolution event.