Microsoft unveiled its Xbox Next Generation Console in a star studded party at Club Avalon in Hollywood. The guests included Rachel Blison, Ashley Simpson, Elijah Wood, The Killers, Tony Hawk and many others. Check out more pictures of the party (will somebody please give Alyssa a Venus Vibrance). MTV tapped parts of the party, for the "MTV presents: Next Generation XBox Reveled", which is said to be airing May 12 at 9:30 p.m. ET/PT in a global unveiling. Here is what the Xbox looks like (Engadget scored a peek).