Prominent tech blogger Paul Thurrott seems to have a bit more insight into the next Xbox than most people. On the most recent episode of his tech podcast, he revealed some new information about the Xbox 720 that he believes to be true. While he doesn’t actually reveal any sources throughout his podcast, he is a pretty reliable person in the industry. You should still take the following as strictly rumors, though.

First off, Thurrott states that the Xbox 720 will be revealed on May 21st of this year. This actually seems like a pretty reliable date if you consider Microsoft’s previous schedules when it came to console releases. They will usually announce a console just before E3, show it completely at E3, then release it in the fall. That May 21st date lines up pretty well with their announcement window for previous consoles. We will see if this ends up playing out this way.

The second thing he talked about was pricing. If he ends up being right, there will be two pricing options available when it comes to the Xbox 720. One will be a $500 model where you get the console itself and the other will be a $300 subscription model, similar to the subscription model of the Xbox 360. Along with these, Microsoft is apparently planning to release a new version of the Xbox 360 that will retail for $99. The only bad side of that is the looming possibility that this means no backwards capability for the Xbox 720. Not that this is too big of a deal.

“They’re also going to sell a new Xbox 360 code-named ‘Stingray’ that will be $99,”

“I don’t actually know this for a fact, but based on the fact that they’re making one—I don’t think that the new Xbox will play 360 games. But that I don’t actually know, that I’m guessing.”

Throughout the entire podcast, he never mentions whether the new Xbox will require an internet connection to play. I guess we are still going to have to wait for the imminent reveal to figure out that little bit of information.

Even though I would much rather see some cold hard facts from Microsoft, I guess rumors from credible sources are going to have to be good enough for now. Remember everyone, these are just rumors. Take them for what they are, not for what you want them to be.

Make sure you keep a fresh tab open at Kaboom Shark for all your Xbox 720 needs!