At risk of flaming pitchforks, I'd rather they wait until the E3 period to reveal it.
We know we won't get our hands on it until the end of the year. I'm in no rush to hand them my money super early for a pre-order. I'd like to know that when they do reveal it to us, they give us as much information as they possibly can about specs, price, launch titles, UI, services etc, so I can make a pre-order decision with all the info (one of the few times a pre-order makes sense in this industry =P). A sort-of reveal with a drip-feed of info throughout the next 6 months sounds terrible to me.