What if they killed the MacPro and made a cube? Same high-end hardware, just in a cube form. Perhaps EOL doesn't mean abandoning the high-end user base.
Very unlikely. Several of the basic reasons are outlined in this blog
http://www.marco.org/2011/11/02/scaling-down-the-mac-pro
The primarily problem is 90-135W CPUs. Throw on top of that the modern trend to drive the PCI-e GPU card up into the 200W zone, and you have about 290-335W of heat to get rid up. Couple that to the Mac Pro (and most Macs) constraint for relatively quite operation and there is only so small you can make the box. Large diameter fans allow them to move a larger volume of air at lower speeds. Lower speeds results in quieter operation. [ One of the huge problems with the Mac Cube's design was heat. They tried the "natural ventilation approach", but that wasn't very well grounded in good design. ]
Switching to a cube (or smaller box ) would mean switching to a Xeon E3 ( or a mainstream Corei7 as in the iMac). That cuts the Xeon down into the 77W range and since not as many slots (likely only one 16x slot for GPU ) the constraints are lower.
Apple could come out with a shorter Mac Pro. Maybe 2/3 or 3/4 the height if they toss top end performance for tighter thermal boundaries but that is doubtful for several reasons. The biggest of which is it basically ties to very closely to the iMac in performance.
The other problem though is price. Apple is not likely to price a replacement that will eat into the iMac. Even if Apple comes out with an E3 model it would likely be priced above the iMac (or at best slightly overlapping the upper end.)
Apple could toss the ODD drives and just have a couple of 2.5" drive sleds. But that won't be a huge size saver. It would help with a 2/3 or 3/4 sized E3 based model but for an E5 model it big enough it isn't going to make much of difference.
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Actually, I see the CNet story as a good sign of new MPs around the corner.
Apple leaks the "rumour". Everyone who has been waiting to see if a refreshed MP is announced decides that the 2010 model is best they're going to get and start buying up the 2010 models. Apple clears the old stock, and then they announce the new MPs.
The huge problem with this is the implicit assumption that Apple has very sloppy supply chain control. They don't. By several reports, Apple execs have weekly meetings about the sales levels of all of the problems. Over the last year of "no updates" they have likely watched the Mac Pro inventories very carefully. As less people bought them they ordered less. It is doubtful they have some huge stockpiles in warehouses somewhere to get rid of. [ They made have to pull some manageable amount back out of there distributor chain but that isn't a huge problem. i
Besides if they did an EOL announcement they could just tack 3-5 month period onto the end where they can sell the inventory. Apple knows folks who buy machines in these price ranges are slower than average procurement cycles. They will likely continue to sell them for several months even after announce EOL. That "have to buy " folks can easily buy them up over that several month period without restorting to back-channel-read-the-tea-leaves rumors.