The next generation Xbox rumors continue to trickle in like water from a standpipe. A brand new report has surfaced with information on the Xbox 720, much of which is old with only a few tidbits being unheard before.

The report states that Microsoft is planning two versions of the next generation Xbox, one with 320GB hard drive, and another with 500GB. On the other hand, a 1TB hard drive will sell separately for those who require a lot of storage games, movies, music, photos and whatever else.

Other things we already know, like a 1.6GHz 8 core CPU and 8GB of DDR3 RAM was mentioned, however, the report stated something that is kind of a shocker. The Xbox 720 will not come equipped with a Blu-Ray drive as previously thought, although the report did not mention the type of optical disc to be featured within the console.

Nothing was mentioned about Kinect 2.0, but we're pretty certain Microsoft has plans to bundle the device with every next generation Xbox console this holiday season so that developers will support the peripheral a lot more than they did previously.

Previous rumors claim Microsoft is in the planning stages of an April event where the company will show the world what it has planned for gamers. Things like always on DRM, Kinect being mandatory for the console to work along with watermarks on discs to combat piracy and the used games market, will be some of the main points critics and gamers keep an eye out for, to determine whether or not the Xbox 720 is a worthy long term investment.

With the Sony PlayStation 4 already revealed and gaining momentum with each passing day, Microsoft only needs to announce its plans as soon as possible before E3 2013 begins, or risk shoving the next generation Xbox into an early grave.