Is it me or does the theory posted above about the 720 having some sort of Bulldozer CPU sound a little odd? The PS3, Nintendo Wii and Wii U and especially the Xbox 360 all use some sort of RISC CPU. Moving back to x86 seems an odd move, especially considering RISC made huge leaps forward in recent years (thanks to the succes of IBM PowerPC, Fujitisi SPARC and especially ARM).
Don't forget consoles are strongly TDP-bound: they need to run cool and quiet and that's impossible with Bulldozer. And for a low-ish yet high performance CPU, just about any RISC architecture is better than x86.
Then there's the 2GB of RAM: that's very little. If the aim is to keep costs down, there are better targets than something as cheap as RAM.
Dual GPU: possible. It would certainly keep costs down compared to a single high performance part and it might lead to more evenly divided heat output, making cooling easier. On the other hand, it would dramatically increase power consumption (and overall waste heat) and practically difficult in a space constrained device like a console.
In other words, I doubt this post is to be taken seriously.