The idea of a games company kicking out a slightly upgraded, cheaper, more compact version of a console is hardly a new prospect; the most high-profile examples are Nintendo's retooling of the old front-loading NES to a more Super NES-style top-loading design and of course Sony's complete overhaul of the grey brick PlayStation to make it into the adorable white PS one.



The idea of a gussied-up version is also plenty old. Many speculated that Sony was going to upgrade the PlayStation slightly back in the waning days of the grey block's life (we even did a feature on the so-called "PlayStation 1.5" a few years back) before the PS2 had really been unveiled. With competition a little stiffer and a bit more experience under their belt, however, Sony may be pushing forward with an upgraded PS 2.5, and showing it off as early as E3, according to a story by The Hollywood Reporter.



"Nintendo, Sony and Microsoft all have hardware in the works that could be launched as early as May," the site reports, adding that a portable GameCube could be on the horizon (something that's been rumored since late last year when the mention of "something big" from an exec at Nintendo in Japanese mag Famitsu sent the Web into a frenzy of speculation).



"A portable GameCube device would bring next-generation graphics to the portable market -- a market dominated by Nintendo with no competition from Sony or Microsoft," Envisioneering analyst Richard Doherty told the site.



The PS one is technically portable, and the re-release of the PlayStation in a more cuddly, portable form has helped the system gain a second wind, thanks to the LCD screen and car adaptor that make taking the seven-plus year-old system a very real possibility. A similar upgrade to the already compact GameCube wouldn't be terribly difficult, though it does raise a few questions about the viability of the Game Boy Advance with such a powerful portable available as a replacement.



The rumor of an upgraded Xbox, with built-in TiVo-like recording ability has been batted around for a few months, as has been whispers of another price drop for the system. Likewise, the PS2 may get an upgrade, something that may make the much-beleaguered U.S. release of the hard drive economically viable for Sony. The peripheral, bundled with the broadband adaptor in Japan hasn't seen much use beyond a handful of developers, the biggest being Square with the massively-multiplayer Final Fantasy XI.



"I believe you'll see the price of this PS2.5 drop as low as $99," Doherty said, adding that it could "fit into the back bay of the PS2." Given that Sony has been a staunch supporter of TiVo technology (they've sold multiple setups – including a combined DirecTV receiver with the recorder built in), it's a distinct possibility and could help leverage the costs of the hard drive should developers be reluctant to embrace it here in the U.S. like they have in Japan.



This is of course still speculation, but details could become more concrete about all three systems as we get closer to E3 this May. When we find out more, so will you.