I heard from IGN that it will either be revealed in January or at E3 with a late 2012/ Early 2013 release date. BUT, you do make a valid point. +1 for you, sir! Plus, I doubt IGN is correct, wish I had that article though...
They may announce the name and maybe have some developers put together tech demos like what Sony did and the Final Fantasy VII tech demo at the 2005 E3. It's possible we see that this E3 and if we do I'd put the consoles release holiday 2013 if we don't see an E3 presence I'd expect a later release. Also we haven't heard even a whisper of a next gen game being developed by ANY developers, and good games sell consoles so unless there's a airtight NDA on these developers regarding the new console I don't see one in the immediate future. Microsoft can't release the development tools for the new xbox until it's hardware and OS are relatively close to final. After that point the tools are released and the average development cycle is 2 years or more so Microsoft will have to wait enough for decent or great games to be finished before they push the new console to market. I'm sure Microsoft saw what Nintendo did with their 3DS and how how it attributed to the nearly $1 billion lost. Nintendo is losing so much because A.) their new handheld isn't selling B.) their Wii console sales have almost stopped and C.) no third-party developers want to develop on a Nintendo console. Microsoft and Sony built their respective consoles for last 10 years along with the huge number of high selling games in which they get $10 per copy sold the new consoles will surely be held back til the hardware can't sustain what the developers are doing or game sales have dropped to a point they need to spur their revenue stream.
It looks pretty awesome, and I'm sure they've taken that into consideration when developing the game. I mean, they're brandishing the label of "BIOSHOCK", so they are expecting the audience to expect a certain standard when they see that. Being in development for a few years, I hope they would have taken care of that.
Oh I know it is Bioshock with plasmids and crazy inhabitants, I'm taking about making additions, like that big bird creature... doesn't feel like bioshock, it's cool and looks very intriguing, but oversized evil animals weren't a part of the universe before.
I'll buy it, I have every confidence in the developer.