So is it Xbox Next or Xbox 360?

There are competing theories about the significance of the name
"Xbox Next" showing up in a slide during a Microsoft presentation at this week's Game Developers Conference, but we figured we'd turn to our inside source who confirmed for us in the first place that Xbox 360 was in fact the name for the Xbox 2. Here's what they had to say:

It's still Xbox 360, unless they decided to change
the name in the past month due to all the negative feedback. Or they lied to everybody doing the work for them, and
that would mean all the work they did for Xbox is null. Which would mean all the work that many companies have done
around the 360/ring of light/all-encompassing would have to be scrapped and millions would be lost.

Although, you never know. A bad name could be worth scrapping millions, but considering the ring of light etc.
that are built into the Xbox, I don't know if they would scrap it. Xbox has been really demanding to all vendors and
internal to not let the name leak, so I doubt they would put it in their presentation. I think they just don't want
the name to be leaked, as the name alone would seem stupid, but if you see it in context, it is not.

So could they have changed it? Microsoft definitely has deep enough pockets to absorb that kind of last minute name change, but until we hear otherwise, we're still feeling Xbox 360.

UPDATE: Get your Xbox 360 pics here