An Xbox 2 in 2005? Yes/No/Maybe

Will there be an Xbox 2 in 2005? Everyone is trying to make sense of some comments Steve Ballmer made last week at a meeting of financial analysts that seem to indicate that they won't have it ready in time for the big holiday shopping season next year, but if you look more closely at what his statement, he actually says that there won't be a new Xbox out "in the next year". That sounds way more like he's talking about the coming 12 months, something which makes even more sense when you figure that Microsoft's fiscal year runs from July 2004 to June 2005.

P.S. – We were going to try and resist the compulsion to obsessively parse his comments, but obviously we can't help ourselves.