I'm going to go with FFXII HD, seeing as the original Gematsu article doesn't say anything about it being a completely new title nor does it really sound like it's going to be a major announcement.
Gematsu said:
Matsuda continued, I think well have a little surprise, too, before clarifying hes referring to a JRPG for home game machine(s).
He specifically says "home use game machine". its a different term than what handhelds are called in japan.
Also he's very secretive about it, so its obviously something we don't know about. Can't wait. Seems like with Level 5, CC2 and others on the prowl, JRPG's have a chance of getting more mainstream spotlight
Well the article in the OP even explicitly calls it "home game machine", so I was under the assumption that much was going to be obvious. I was merely answering his question if "console" could refer to more than just home consoles, which typically it does, whether it applies here or not.
I do suspect that it may not be an all-new title too though. Square is currently sitting on a few projects now that we know exist, but haven't been officially announced or have a name yet. It's possible he is referring to one of those.