Valve shows off 'game console' hardware at CES
bbc.co.uk
bbc.co.uk
[1] http://www.prnewswire.com/news-releases/xi3-and-valve-to-unv...
[2] Does Valve often have a booth CES?
Oh, I see what they did there.
8 USB ports? Ha wow.
http://www.theverge.com/2012/1/12/2702994/xi3-modular-comput...
But it will compete in the existing console market just fine, technically. It's not really clear if extra 3D rendering performance in the console market is really needed; people who want that are already in the PC market anyway.
I speak from experience on this. For some reason, if your PC is underspecced in the gaphics department, even going down to 640x480 and setting all the graphics settings to low won't make most modern games playable. I don't know why this is the case.
Unlike a "true" console, they are likely to define a chipset-neutral minimal spec for games, which means the development model will be more PC-like than console-like.
for example tf2 a rather non complex game can barely run 1280720 on minimal settings with a hd4000 (<20fps) yet the ati x1950 that i used to own (1ish gen better than the xbox controller from memory) was able to do it in medium quality and 19201080 and significantly more than 60 fps
Basically you're measuring DRAM with your test. DRAM hasn't changed much over the last decade, and that extra circuit board with all those chips is still a big advantage for some tasks.
But consoles don't have external GPU buses either (sort of, the XBox has some kind of specialized framebuffer-only bus I think).
Not to mention that may very well not be "the" steambox, as apparently Valve has said they will have multiple prototypes from multiple manufacturers.