The 360 is not really up to the hardware task these days, mostly due to memory constraints. It less needs a massive new video card and processor and more just a bunch of RAM. There are a decent number of current gen games that look drastically different on a high end PC vs a 360. There is room for updated hardware in there, but there's a decent discussion to be had about the value of the additions as your non high budget games aren't pushing your machine anyways. This is part of the problem with the console model in general: with a PC you can decide on a very large scale exactly how good a card you need for the money. The consoles are mostly selling different amounts of internal storage.