If I was Phil Spencer this is what I'd do:
- Walk on stage and announce we're committed to the hardware and software people have already bought, mention how all future xbox consoles will be backwards and forwards compatible, explain a little bit in brief detail. Close this statement with a "While I do expect a next generation from Microsoft, we have nothing to announce in the foreseeable future. When we do release a next more powerful Xbox, it will be at the start of a new generation and a full generational leap and how we're not interested in half measures or giving users advantages because they bought their console at a different time"
- Bring up Backwards Compatibility feature from last year and have a sizzle reel in the background of games coming in the near future, with Red Dead Redemption and other highly requested titles available right now
- Go into detail a little more about their plans for Windows 10, if all future xbox games are going to PC, announce it here and get it over with. End the statement with "We have heard the feedback about wanting Win10 and Xbox gaming policies to be more consistent and as of today, xbox live gold will no longer be required for multiplayer on any xbox console."
- Begin showing all the upcoming releases for 2016/2017.
- Towards the end come back on stage and announce custom Elite controllers and the slim console starting at $299 with a price drop for the VCR to $250
..Of course this isn't going to happen, but I can dream. While I think the future console and PC stuff doesn't really hold it's place at E3, or at this point in time (if they aren't doing an upgraded console), I do think they have to at least explain shit.