Xenon is the name of it right now, the SDK at work has it on the main loader screen but we won't know until we have the actual console infront of us.
I'm suppose to fly to some symposum about this next week actually, we find out what the hell the artists get to use.
Microsoft are telling us one thing and ATI are telling us another, have a feeling that Microsoft just don't want to seem behind technology to be honest, as what we have as the hardware is a Dual G5 2.0GHz w/Modified X800 Card ... so bleh!
Just hope I don't fly to Seattle just to find out they still haven't decided. Might not seem like a big deal but we're talking the difference between being able to shift 60,000,000 Polygons/Sec and 110,000,000 Polygons/Sec.
It also changes structures on how detailed our implimentations are.
It's like the difference between getting 1 and 3 Texture Blending Options in DBP; you can add so much character and detail