The Electronic Entertainment Expo videogame conference is almost here, and rumors are flying about major revelations that could be in the offing.

Will Nintendo unveil new Mario and Zelda games? Will Sony and Microsoft debut Wii-style motion controllers? Will Sir Paul McCartney give a personal demonstration of The Beatles: Rock Band?

We’ll find out when, after two downsized years, E3 returns to its glitzy past, complete with booth babes, free-flowing swag and demos of upcoming games. E3 2009, which will be held in the Los Angeles Convention Center and surrounding environs June 1 to 4, brings back the trade-show environment that had become a gamers’ mecca.

To paraphrase Tim Curry, anything can happen at E3. (Except probably Tambourine Wizard Hero.)

Here are the rumors we’ve heard, plus the odds they’ll come true.

Rumor No. 1

After showing off the redesigned PSP, Sony will up the ante and show a slimmer, redesigned PlayStation 3.

Where we heard it: Various blogs posted images of dubious origin, purporting to show a slimmed-down PS3 model that’s so far along in production it even has a North American box design all ready to roll. Then they got cease-and-desist letters, purportedly from a Chinese law firm.

Why it could be true: Why send a C&D about something fake? Or so goes the logic.

Why it is probably baloney: Let’s list the reasons.

If it sounds too good to be true, it probably is. Do they really make the cardboard boxes for something in the same factory where they inject the plastic case molds? Go look at your PlayStation 3. Notice how gigantic a machine it is. Good God, it’s huge. If Sony could cram all that into a case the size of a school notebook, they’d be tambourine wizards.

Odds of this happening: 100 to 1. Maybe Sony will drop the price on the current model by $50.

Rumor No. 2

Members of The Beatles will appear at E3 to promote their new music game.

Where we heard it: This one we made up. But Paul McCartney unveiled footage of The Beatles: Rock Band during his set at Coachella.

Why it could be true: With Activision breathing down Harmonix’s neck with umpteen new Guitar Hero titles, it’s definitely time for Electronic Arts to flex its muscle and make a big impression at its press conference.

Why it might not happen: Like Paul McCartney doesn’t have better things to do.

Odds of this happening: Paul, 10 to 1. Ringo, 2 to 1.

Rumor No. 3

The next Metal Gear Solid title will be unveiled at Konami’s press conference Wednesday.

Where we heard it: Series director Hideo Kojima has been releasing all sorts of obvious teasers for his next game, from a website with character artwork to a cryptic interview with Famitsu magazine in which all the important details have been “redacted.”

Why it could be true: There’s definitely a big announcement coming, so why not make it at gaming’s biggest show?

Why it might not happen: Kojima might have said that it’s not. If we replace the two-character blank spaces in one part of the censored interview with “E3,” we get: “I’m not announcing _____ at E3. E3 would be fine for it, but the E3 people would say, “Oh, so you’re making ____.”

Odds of this happening: 3.141592 to 1.

Rumor No. 4

Nintendo will show a new Mario or Zelda game for Wii.

Where we heard it: Well, technically this isn’t a rumor. At last year’s E3, in lieu of showing games Nintendo fans actually care about, company president Satoru Iwata simply assured us that the Mario and Zelda teams were hard at work on new Wii titles. If Nintendo were a normal videogame company, it would follow up something like that with some real evidence at this year’s show.

Why it could be true: Nintendo knows that after focusing squarely on casual gamers at last year’s E3, it needs to wow the core audience this year. Previously announced titles Metroid Prime Trilogy and Sin and Punishment 2 aren’t gonna carry that weight by themselves. Showing a few seconds of new Mario or Zelda games would do the trick, even if they’re not going to be out until next year.

Why it might not happen: Nintendo isn’t a normal videogame company, and if Shigeru Miyamoto and crew aren’t 100 percent happy with a game’s design, they just won’t show their work in progress.

Odds of this happening: 2 to 1.

Rumor No. 5

Sony will show a new PSP with an iTunes-like downloadable games store.

Where we heard it: This rumor has been making the rounds for a while, but 1up did some digging and says it’s true. The gaming site says the new device will be called the PSP Go! and have no Universal Media Disc drive, just some onboard flash memory and a game download store — and probably a touchscreen.

Why it could be true: Touchscreens and digital game distribution are the future, and disc drives with moving parts aren’t right for portable game players. It all makes good business sense, and the fact that highly placed industry sources all seem to agree on the particulars of the device would seem to seal the deal.

Why it might not happen: We’ve all been had by a massive disinformation conspiracy.

Odds of this happening: 5 to 4.

Rumor No. 6

Microsoft and/or Sony will show motion controllers in an attempt to compete with Wii.

Where we heard it: Reliable reports. The Wall Street Journal says that Microsoft will show a 3-D camera that tracks body movements. Variety says that Sony has a similar device, only coupled with a wand controller that uses LEDs, as shown in a 2008 patent.

Why it could be true: The Journal and Variety aren’t exactly going to make stuff up.

Why it might not happen: Everybody was saying the same thing last year, too, and nothing came of it. And we even tracked down Johnny Lee to ask him if he thought it would happen. Were we simply ahead of schedule?

Odds of this happening: Either, 1 to 1. Both, 2 to 1.

Rumor No. 7

Nintendo will show Wii Fit Plus, a sequel to its incredibly popular exercise game, Wii Fit.

Where we heard it: Siliconera has dug up a Nintendo trademark registration, complete with logo.

Why it could be true: Nintendo loves making money. Also, the “Plus” in the title would seem to indicate that the game would work with Nintendo’s new MotionPlus controller.

Why it might not happen: A trademark registration doesn’t necessarily mean a game will be shown at E3.

Odds of this happening: 1 to 1.

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