So, before the Pokemon Direct on Friday airs, my (hopefully FINAL) summary/stance in terms of speculation/prediction about the next main-game-entry is this:
-XY-sequel that is simultaneously deemed the 7th generation,
-being to XY what BW2 was to BW (still 3DS and same engine, directly continued story..)
-while at the same time being to XY what Gold&Silver were to RBY (starting in a new neighbour-region east of Kalos, but returning later in the game)
-a whole bunch of new Pokémon (expecting another short ~70, that will complement gen6 as if it was a second half - which is also why I'm expecting Kalos-starters again rather than new ones, but a new legendary trio added for example etc.), as well as the obvious third wave of Mega evolutions
-in terms of plot, perhaps a GS-rip-off, where someone else is resurrecting Team Flare (Malva perhaps), while trying to bring Lysandre back. Of course the "legendary" focus is on Zygarde, but I can imagine Zygardes perfect Kaiju-Mecha-Overlord-form to be just ONE of the mascots, with the other one being an Ultra-Magical-Flowerpower-Florges2.0 form of AZs/Eternal Floette, but take this part with a bigger grain of salt.
-akin to XYs constant Kanto-references (Pokeflute/Snorlax, Farfetch'd-trade, Lapras gift, Viridian forest clone, Birds/Mewtwo, Starters getting Megas etc..), it might do that with Johto (Sudowoodo blocking a path, Bug-catching contest etc..), heck there already is a yet unused Train station that's said to be "connecting" regions in Couriway Town in XY.
-and Kalos would now have new places accessible (Rhyhorn racing track, more Power plant entrances etc.), it would make sense to return to Kalos mid-game as opposed to post-E4 (especially if Terminus-cave is relevant in the climax etc.)
....unless of course, the Direct will just be more Pokken/GO advertisement (it cannot be, though since GO has a presentation coming soon anyway), with Pikachu shoving a fat cake in its face (also won't be about detective game as that's OUT in Japan already), in which case we'd wait another few months for a game-announcement, but that would be ridiculous at this point (they've been marketing the "Z"-hype for half a year already AND we've already seen a non-gen6 Pokemon...), adding the fact the past TWO Pokémon-Directs were, #1 the actual reveal of gen6-XY, and #2 muh ORAS hypetrain, I think the odds are as high as it gets.
And while it is supposed to just be 5 minutes long, that's completely enough for a teaser with "expect moar news soon" thrown in there. The XY Direct was only 11 minutes because Iwata talked about the whole franchise-history for more than half of that.
Gamefreak/Pokemon, pls, it's time! We've overspeculated too many times about "Z" by now, it needs to end. lol