Microsoft 'Falcon' to bring cost reductions, 65nm CPU to the Xbox 360?

We knew it was coming, but it sounds like we finally know what it's all about: the 65nm Xbox 360 is apparently being code-named Falcon, according to Dean Takahashi. Stands to reason we can expect long-fabled cooler / less failure-prone / cheaper 360s to be Falcon's result, but hey, we'd take just two out of three at this point.

[Thanks to everyone who sent this in]