**UPDATE** Microsoft just confirmed the price: 299$, thats without the Kinect, and the lowest amount of Storage version **UPDATE**
Microsoft released in their new copy from “Xbox World Magazine” pictures and features of the new Xbox 720. According to the magazine, the new Xbox 720 will have ” a CPU with “four hardware cores, each divided into four logical cores,” as well as 8GB of RAM. The console’s final name is speculated to simply be “Xbox” and is set to include Kinect 2.0, directional audio, a TV output and input and is said to use Blu-ray discs and the GPU it will be akin to the Radeon HD 6670, which offers support for DirectX11, multidisplay output, 3D and 1080p HD output ( The chip currently has a market price of upwards of $79.99) ”. Microsoft also mentioned they want to bring the reality closer to the player by improving sound and finger tracking on the Kinect. In the magazine there are 2 pictures of the console, one on the cover of the magazine and another one showing off the console and its parts.
source: http://www.noshitshurlock.com/official-xbox-720-pictures-and-features-announced/