Well my current plan is to buy the next Playstation and then get a PC instead of the next Xbox.
However, in my dream world, Microsoft will make the next Xbox as much of a behemoth as the original was. It'd have everything built in, 32x Blu-ray player, card reader, wireless network card, it'd have a 500gb hard-drive, using a standard pc or laptop hard-drive that was upgradeable without voiding the warranty. Build quality would be of the highest standard, and it'd run almost silently.