You might be right actually, Xbox has been stylised in quite a few different ways. It's all caps on the product itself, but seems to be Xbox on the website and in any official texts now.
What's wrong with Blu-ray support though? It's pretty logical they'd support that as the physical media, since HDDVD is now defunct. I don't see how this is either a good or a bad point. It's just something they had to do really. You can't fit big games on DVDs any more.
Required internet is stupid yes. Windows 8 style OS... not sure on that. If it's like the PC version then yeah bad move, if it's modified to suit gamepad/Kinect use then maybe that will be ok.
BTW, the "leaked" 720 specs were supposedly part of an experiment into how gaming media reported stories without fact-checking anything, not sure if that was true or yet but if so we don't really know anything about it.