Power7 CPU's are 8 core chips with 4 simultaneous threads and 4 MB of eDRAM per core. Reduce a couple of cores and some clock rate to keep the thermals in check and you have one hell of a powerful CPU for a home console. For AMD it will be using a Southern Islands graphics chip which are basically the Radeon HD 7XXX series GPUs for next year. So its gonna be a really powerful console. basically next gen.