Despite rumors flying around, we'll not be hearing of any new Xbox hardware at the Electronic Entertainment Expo this year.
David Dennis, Microsoft's Group manager of PR told Bloomberg that Microsoft had no plans to reveal any new hardware anytime in the near future.
"For us, 2012 is all about Xbox 360. There will be no talk of new Xbox hardware at E3 or any time soon," he said. So if you were getting hyped up for a new console, it looks like you might be out of luck.
However, I do want to take a second to fuel some conspiracy theory stuff. The quote specifically calls out any Xbox hardware. If you still want to hope for something and believe the rumors (some of which seemed fairly convincing) you might attach some meaning to the use of that specific word. Technically, Microsoft could release a next-gen console under a whole new name, and they wouldn't be talking about Xbox hardware at all.
To be honest, I think they are far more likely to stick with the Xbox name and really have no plans to release any info about a new console this year. As much as I don't really want to buy a new console (can't afford it!) I can't help being a little disappointed that we aren't even getting any information yet. Looking forward to new consoles was some of the best fun you could have as a child, and it seems like we don't get that experience very often anymore.