Next gen and last gen will exist simultaneously because of Sonys 10 year plan just like it did with the PS2. Microsoft is copying what Sony's doing so that kinda goes double now. The Wii U will be the introduction of the next gen.

1. The power of the hardware has nothing to do with what generation a console belongs to. There is no logical conclusion other than the Wii U being an eighth generation console.
2. I can foresee no conceivable way for the 360 to maintain second place. The PS3 will benefit far more from continued price cuts than the 360 ever will when you consider each systems' current price point.

ummm definately a new gen power isn't the nly thing that makes it 8th gen its that by default because its a new console after the 7th gen.

yea to me the race ends when the one in first place stops running.

This is not a serious question is it?

1) Do you consider Wii U a next gen console?
Of course... its a new gen. Wii U is clearly a successor to to Wii with an entirely different catalog and experience.

2) If you agree, will the Xbox 360 be the rightful winner for the race for 2nd Place?
At the time of Wii U's release the next gen starts, however, that doesn't mean the current gen stops selling. If PS3 eventually passes it due to legs, well then 360 is third. Of course MS won't advertise it like that, but that's the factual numbers.

1. Yes - how is this even debatable?

2. No! Sales are final, when they're final. (once all the consoles of this gen stop selling)
However, the 360 might very well stay in 2nd place - so it doesn't really matter. (it doesn't really matter anyway - the Wii won; 360 and PS3 will end up with similar sales)

1: Of course, it is the next step up for the Nintendo Line of Home Consoles.

2: What? I don't know, I don't pay any attention to Microsoft.

Yes, or else Nintendo has been skipping the 7th gen this whole time.

Exactly what makes this whole "WiiU is not next gen" funny.

1. Definitely.

2. Since you don't specify the criteria for "rightful winner":
In consoles sold? Most likely no. In profits, brand/market growth? Yes.

I don't see Cheebee laughing...