I am not best pleased.
I would like a better, HD GPU and a quad core CPU, not this tri-core nonsense we got now.[footnote]though to be fair it is very well made, so kudos to MS engineers. But why can't they use last years midrange EVERYTHING and then super-optimise it to compete with current high ends to the point where the console is not limiting to game developers and actually give me some confidence where that single new console will last me at least half a decade? Like the 360 originally did![/footnote] It's just really limiting to newer games in comparison to what they could be. See: Battlefield, Crysis 1 & 2... any AAA game made post-2011.
Sure it's an improvement, but it's not future proofing at all; where future-proofing is what I wanted (especially in these hard economic times). Give us the true Xbox 720 with full HD capability, a quad core and backwards capability with the 360 through firmware & Live. Then I'll buy it and not have to worry about it limiting the software; and if it meets these conditions I wouldn't mind spending £300+ on it as it would be a worthy, valuable investment.
EDIT: Actually, after reading this in more detail I think I can just about let MS off the hook. 6x more powerful is a great improvement, and for the same price as a 360 slim today? Not bad. Not bad at all. Besides, through perfect optimisation over the years I'm sure it could keep up with the times. The 360's at it's peak over 6 years and that was pretty much in the same position.