E3 2012: Top five storylines to follow

Outside of the holiday shopping season, no week is bigger in all of gaming than E3 week. The industry's annual expo is where all the top games are unveiled, whether it's via quick trailer or playable demos on the floor of the Los Angeles Convention Center.

With rumors of new consoles for Microsoft and Sony along with high expectations for Nintendo's Wii U, E3 2012 might be one of the most anticipated in the event's history. Here are the five biggest storylines to watch for when the E3 Expo kicks off June 4th.

What is the Wii U?
Nintendo finished their press conference in 2011 with the unveiling of the Wii U. Gaming media was immediately thrown in to a state of confusion. Was this a new console, a new controller, an accessory for the Wii, or something different? Nintendo explained that it was in fact a new console, but it would also be compatible with existing Wii controllers. Nintendo boasted a tablet-style controller and cutting edge graphics on par with the PS3. However, with the PS4 possibly coming sooner rather than later, how dated is the Wii U going to be? We're still waiting on concrete details for the Wii U, such as a final controller design and news on games and developer support. Hopefully, we'll get some answers and a look at how big-name games actually play on the mysterious system.

Is the PlayStation 4 on its way?
Sony built a brand with the original PlayStation, then blew away the competition with the PS2. The PS3 launched a year after the Xbox 360, but has been creeping on its heels in the worldwide sales race ever since. With nearly six years having passed since the PS3 hit stores, the standard console cycle dictates that it's time for a new system. However, the global economic crisis and Japan earthquake have been particularly unkind to the gaming industry. Sony is still doing well with the PS3, but rumors have swirled that the PS4 is already in development.

What's next for the Vita?
Sony's much hyped PlayStation Vita didn't exactly knock everyone's socks off when it launched in Japan in December, and in the U.S. in February. With phone and tablet gaming taking people by storm, the market might be closing for a $250 gaming device that doesn't make phone calls. There are some high quality games available for the powerful system, including a gorgeous Uncharted experience. Now, it's up to the second wave of games to help push the Vita to the next level. Expect to see at least a dozen games announced for the Vita, and don't be surprised if there's a price drop announced so soon after the Vita launched. Sony needs to take action before it's too late.

Is Microsoft prepared for the future?
The Xbox 360 hit stores a full year before the PS3 and Wii. They still own a slight advantage in sales over Sony, but both are chasing Nintendo. Microsoft has chosen to do things differently when it comes to keeping things fresh. Instead of a new console, frequent system updates and the launch of the Kinect have helped the Xbox 360 stay on top of the PS3. Heavy marketing has turned Xbox into a household name. Microsoft has adamantly denied that a new Xbox will be unveiled at E3 2012, so it's up to the games to do the heavy lifting. Expect to hear a lot more about Halo 4, Call of Duty: Black Ops 2, and the next wave of Kinect experiences.

Who will dominate the headlines?
When all is said and done, gaming is all about the games. We'll see big news about Grand Theft Auto 5, Black Ops 2, the recently announced Elder Scrolls MMO, Madden 13, Halo 4, Bioshock Infinite, and many many more. Will we see new announcements for Mass Effect or InFamous? What small budget game will make waves and steal the spotlight from the big boys? Answers to all these questions, as well as blindside announcements out of left field, will soon be headed our way when E3 kicks off June 4th in Los Angeles.