Xbox 2 is comming in either late 2005 or early 2006, heres what you need to know:

Xbox 2 system features: MP3, MP4, DVD playing with playback, CD playing, CD burning, Online, Backwards Compatability

Games of Xbox 2 (for sure):

Ghost Recon 3

Project Gotham Racing 3

Rainbow Six 5

Mechassault 3

Halo 3 (yes its true, and it will end the halo trilogy)

Ninja Gaiden 2

Spiderman 3

Dark Sector

Avalon

Splinter Cell (4 or 5)

Possible titles:

Castlevannia

Conker 3

Fable 2

KOTOR 3

Warcraft untitled/rumored project