It’s safe to assume that all consoles have codenames during the development stage of their life cycles. The Dreamcast was called Katana, the Gamecube dubbed Dolphin, the Nintendo Wii titled Revolution and even Microsoft’s Kinect was given name Project Natal.
All is not lost however, as codenames are, by their very nature, temporary. We fully expect Microsoft to reveal a snazzy new title for the 360’s successor when appropriate.
In the meantime though – it’s Durango!