For the future CPU: The CPU would likely be more future proof, if we had more cores / hw threads running at lower frequency (or even in-order) compared to high IPC / high clock CPU with just a few cores. 8 cores with SMT = 16 hw threads, would be a really good starting point. Next generation game engines should have no problem in splitting tasks to that many threads. More cores and less IPC seems to provide more total performance, assuming that the software fully utilizes all the cores.
IMO, the chance of seing another in-order design is small, - even ARM has gone out of order with Cortex A9 and A15. For a given level of (non-trivial) performance, you're better off going out of order. The only way for an in-order design to match the performance of an out of order is to lower data-dependency latencies, either by clocking higher or by burning more power on faster caches.
The PPE/XCPU was clearly influenced by the work at IBM that lead to Power 6, being deeply pipelined, quite narrow, multi-threaded and clocking super fast. Unfortunately performance didn't match the exotic power consumption. With Power 7 IBM has done a full 180 degree turn; it is wide, out of order and has much better single thread performance, - and each core supports 4 threads.
I expect MS to charter IBM to do a design again. I could imagine a core designed around the scheduler of the Power 7, - or something very similar. I expect 8 cores, each with 4 threads, clocked at 3-3.5GHz.
Cheers