The next generation console rumors are heating up between the next generation Playstation “4”, codenamed “Orbis” and the next generation Xbox “720”, codenamed “Durango”. While we eagerly anticipate for their release, more and more details have emerged about these mysterious consoles – specifically the PlayStation “4”.

Recently, Kotaku was the recipient of some juicy information regarding the next generation console from Sony, and it looks pretty legit. According to Kotaku, it seems like Sony has codenamed the next generation PlayStation “Orbis”, and it’ll be packing some major hardware upgrades.

The most eye catching update is the massive graphics overhaul. According to Kotaku, the PS4 may be powered by AMD’s Southern Islands GPUs (good-bye Nvidia) and will be able to run at resolutions of up to  4096×2160, which far exceed the resolution for most HDTVs on the market. Considering today’s PS3 can only somewhat handle 720p resolutions, that’s going to be quite a far jump.

Graphics is getting an overhaul, but what about the CPU? Well, that’s getting an update too. The PS4 will apparently utilize full fledged AMD x64 CPUs as opposed to Cell Processor developed by Sony that was supposed to be the revolutionary piece of the pie that would crown the PS3 as the king of consoles.

The PS4 however, will not be expected to be compatible with the current PS3 games. Additionally, used games might be out of the question too due to a new security features that will lock the disk to a single PSN account and save the game the hard drive.

Of course, I’d take all this with a grain of salt. There’s plenty of time before the release of the new console, but we all love some juicy rumors, right?