Turns out Steve Ballmer's talk up at the University of Washington delivered even more saucy info than we were initially led to believe. In a transcript of the subsequent Q&A session, Steve is shown to have delivered the following statement on the topic of large-screen televisions and Microsoft's related hardware strategy:
For that big screen device ... there's no diversity. You get exactly the Xboxes that we build for you. We may have more form factors in the future that are designed for various price points and options, but we think it's going to [be] important.
It's safe to assume new form factors point to a smaller rather than larger 360 chassis, though the price points and further options he mentions are wide open for speculation. It wouldn't be unreasonable to forecast Microsoft pushing out its own slimmed-down console to match up with Sony's PS3 Slim, but we also shouldn't discount the idea of an Xbox 360 with Project Natal hardware integrated into its shell. In other words, we really don't know what Steve has going on under that shiny dome of his, we just hope it's as exciting as he makes it sound.

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Steve Ballmer teases new Xbox 360 form factors, price points and options