In the latest set of rumours the next version of Android may be coming sooner than what we were expecting. Android 4.1 Jelly Bean's source code was only released in early July; not even three months ago. Only a handful of devices (literally) have been updated to the as-current version of Android. Regardless, Android 4.2 may be announced later this month.
Reports suggest that some of the new features will be limited to Nexus devices. This could include more Google Play content or exclusive games. From later this year onwards, phones will be able to enter freely into the Nexus certification program.
There will also be a new customisation centre where users will be able to easily change ringtones, wallpapers, languages, launchers and probably much more to make the device their own. Presumably, OEMs can also use this to their advantage to create templates and still offer their own launchers and Android skins.
Project Roadrunner may bring back memories of a certain cartoon but in the case of Android 4.2 this project will focus on optimising battery life.
KitGuru says: As much as I find it strange a new version of Android is coming already, the features themselves sound very plausible.