Next-Generation Online Microsoft's Secret Console Revealed is a "world exclusive" scoop on Microsoft's entry in the console gaming race taken from an upcoming edition of their print magazine. Here's a bit on the decidedly PC-oriented hardware in the story, as well as Microsoft's dismissal of the rumor, which Next-Gen still seems certain is a reality:

While a Microsoft spokesperson quoted in the article called the story "wishful thinking," several independent sources have confirmed that X-Box has been in development for several months. Contacted today, a Microsoft spokesperson repeatedly stated, "This is a rumor. It is Microsoft's policy not to comment on rumors."

According to the story, X-Box will feature a 500 MHz processor by Intel (note: according to a follow up story in the forthcoming November issue of Next Generation Magazine, an AMD Athlon powered version is also planned), nVidia's NV-10 graphics technology (recently renamed GeForce), and a modified version of the WinCE operating system. According to the story, this will make X-Box capable of PlayStation 2-level performance.