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It seems like Xbox 360 is the name, but interesting thoughts on the whole name subject here:

Xbox 360? Back nearly a year ago, a list of potential candidate names was unveiled for the Xbox 2, on this list contained Xbox 360, now considered by many the final retail name for the next generation Xbox. The reason being to better compete. Xbox 2 sounds older then PlayStation 3 - therefore if they bump it up to 360, it sounds more cutting-edge and more modern. Microsoft often up version numbers, from memory they've done this with DirectX and Windows Media, why bother with 360? Why not just call it Xbox 3. This could well happen, but again total...

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