It may or may not be true, but...
News - Xbox 360 Name and Details 'Revealed'
Posted by Ashton Liu at 10:19:52 AM EST on 4.15.2005.
Eurogamer is reporting that an anonymous source close to Microsoft has confirmed to them that Microsoft's new system will be named Xbox 360 and the system does has a concave shape. The source went on to say that the final system has a distinct possibility of being white, though many rumors have been circulating that the system would be silver.
The console stands upright and curves in in the middle. It was apparently difficult to ascertain as to where the hard drive and disc slots were located on the system. The logo is described as a round nexus with "Xbox 360" written inside it. Previous rumors merely had a '360' written in a disc.
Microsoft will reveal the system in a half hour special on MTV on May 12, a week before E3. The company's first viewing of the console will be on May 16, at the company's press conference. Currently, Xbox 360 is slated to release in October/November 2005, though a specific date is still up in the air, apparently.
Source: EuroGamer
Either way, you better remember to be tuned to the worst television station in the world on May 12th. I might try to record it, since I will be working that day.