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To clear things up, it's the exactly the same as the current 360 version.
There is no "having to wait again".
And, from now on from what 4J was saying, each of the console versions will get the same updates at the same time. The next gens will get larger worlds, etc, but other than that, all the consoles (both old and new) will have the same version of MC.
What version of MC is the console version then? I want to know the exact details so I can plan. I mean, I already noticed that you cannot trade with villagers, you cannot place logs sideways, and you cannot place slabs on the upper half of blocks, which is all fine and stuff I can deal with, but it'd be nice to know exactly what the console feature set is so I can, again, plan properly for my projects.