Software upgrades would allow media to be streamed to any smart device, so a user could start playing a game or movie on a TV, move it to a tablet or phone, and then continue playing. A mentioned DVR feature would also allow live TV to be recorded and streamed in the same manner,

Windows 8 variant based,

Kinect would logically get an update to improve the voice recognition plus a HD camera on the device. An improved tracking system and dedicated processing just for the Kinect would actually allow for four players to use the Kinect simultaneously, 

There's also a possibility that we may see some force feedback-enabled peripherals like a steering wheel,

Possible release date in late 2013, a price tag of US$299, and even augmented reality glasses with 4G connectivity,

The US lawyers had the document removed from the Website it was published on.  The above all seem sensible and viable so we look forward to seeing the results.