i would like to see the phantom come back. Like 5 years ago a slip on an e3 show mentioned that a new console by a 4th party development team that was not announced was to hit store shelves, but it fell out of the race. I'd like to see it come back honestly.
The Phantom always looked like a piece of shit, not to mention that the thing never existed in the first place. They never would have had any backing from strong software developers, so none of the games would have been any good.
Also, Xbox Live (and I think the ps3 might eventually) does exactly what the Phantom promised to do: allow gamers to download games and play them on a console. It's not quite at its full potential yet, but I think within a few years, it's going to be huge.
As far as a new console coming along? I'd love to see Google tap the market, maybe with a handheld device or something different from what's out there. If there ever was a fourth party console, I'd want it to be vastly different from the other three. Something innovative.