The document described a box of multiple CPUs and GPUs, allowing for backwards compatibility with the Xbox 360 through an included PowerPC CPU, an estimated 4-6x increase in graphics performance, and background processing enabling TV recording while playing games.
The plan aims for "True 1080p and Full 3D", implying an ability to run 60 fps games at 1080p resolution. The Kinect 2 hardware is included, allowing for four player concurrent tracking with improved voice recognition, dedicated hardware processing, and a "better, wider, deeper" play space allowing use in smaller areas.
The Xbox 720 is designed to be always on in a low-power state to allow for multimedia operation, to be "the only box you need for premium living room entertainment." Blu-Ray is included, along with USB 3.0, HDMI, 802.11n, Gigabit Ethernet, PCI-E, DisplayPort and SATA connectivity. Storage includes the Blu-ray drive, a hard disk drive, and flash storage as well. Video RAM is pegged at 4 GB of 128 bit DDR4 RAM.
Leaked document reveals next Xbox price, tech details | GamesIndustry International
If much of this holds true, and it plays Blu-ray, Ill surely try one as a home media center.