Geez, just release a new console already ffs, these damn things are KILLING progress, especially the 360 since it's the lowest common denominator of the two main consoles hardware-wise and it only has a DVD drive in it so all these game companies are still programming for ~ an 8GB disc to keep things simple and there's only so much you can do in a game with that much space forever.
Glad to hear there's at least a 720 very likely in the works, I hope MS either sucks it up and gets the licensing for Blu-Ray from Sony, or just uses some sort of proprietary format larger than DVD, perhaps such as bringing HD-DVDs back just to use them as game discs, it's not like the licensing won't be cheap as hell since it's a dead format(but still vastly superior to DVD, don't forget) and it doesn't hurt to make it the new standard this time since the console is only in development. And it will allow larger/higher visual quality games to finally hit the market for all platforms. After thinking about it, I really hope they consider this, or at the very least switching to some other larger format, the DVD is stagnating progress