Despite rumour upon rumour, it appears from "people familiar with the matter" that neither Sony nor Microsoft are going to be dropping disc and going download-only for their next gen consoles.
The WSJ reports that, "Sony Corp. considered but ultimately rejected a download-only scheme for its next videogame console, people familiar with the matter said, opting to include optical disk drives rather than break with a decades-old model in the industry."
It also notes that, "Sony is targeting a 2013 release for the successor of its PlayStation 3 console people familiar with the matter said."
It also manages to get the down-low on Microsoft's plans, and states that: "is planning to include an optical disk drive in the successor to its Xbox 360 console, according to a person familiar with the matter. The software company also had concerns about access to Internet bandwidth, this person said."
And all that Pre-E3 too!
Source: Wall Street Journal