Let's assume all the rumors are true. I wouldn't get it based on the facts. With Microsoft Game Studio being very quiet, I expect little out of the launch lineup besides ports and indie tier games. Their two big hitters, Halo and Gears of War, just got new releases rather recently, so I don't see those making an appearance. Unless they've amassed some bad ass internal studios and third party support over this downtime, not a fuckin' chance.
Not to mention the exorbitant cost of Live despite it still including ads out the ass. Also the focus on "center of the living room social media convergence center" bullshit turns me right off. What games do you have, what's going to change about how I play them, and how much is put in between me and playing the games...that's all I need to know.
I can't in good faith trust their ability to do proper R&D on the launch SKUs either. I'm one of those dumb shits who is on their fourth 360 (could have gotten a new gaming PC much earlier than I did...), and I'd have to at least wait it out and see if they survive people having the gall to play games on it.
I never used the Kinect, and ended up selling it. The only reason I would want the new one is to mess with it on the PC, and that's not enough to buy the whole system.
Sprinkle on even one of the rumors being true, and I file a restraining order against the thing.