We will go back to the NES/SNES golden age of console gaming if it wins.

Err... the same as always?

We're yet to see how much of a difference it will be, but if X is anything to go by, it wont be a huge difference. So it wont make a huge difference who wins. The following gen will be a step up regardless.
Its getting dumb how people seem to be convinced that the Wii U is current gen. Really, it isnt. Its next gen. X was the proof right there.

nothing will change it will be the same. Nintendo will come out with the next system and still have bad 3rd party support unless they collaborate with them like they are doing now

people who say WiiU is current gen are just butthurt and want Nintendo games to be on their platforms.

Marginally weaker? Please name one game on PS1 that even remotely looked as good as Majora's Mask. I'll reiterate again that as for that console war, dream cast was already dropping out by the timeGC and Xbox came around making the PS2 the weakest console, which ended up being the clear market winner.

The Wii U is not vastly behind in the same way the Wii was. I'd say at most the PS4/720 from the current rumoured specs are 4 times more powerful whereas the PS3/360 were at minimum 10X. We are not going to see the same difference in graphics as we did last generation and this will be confirmed once 3rd party games that are being developed for the next gen get ported to the Wii U.

I completely agree with you on that one and as Iwata explained, this is due to the fact that the final versions of the Wii U dev kits were not given to developers until several months before the Wii U's release which was a huge fault on Nintendo's behalf. I believe Nintendo's E3 showings will lay to rest any comparisons of the Wii U to the current gen.

What will happen? Only good things will happen.
Because the only company that is totally focused on videogames will sell the most videogames.
The other two can sell: the most tvs and the most computers.
:)

You do bring up an interesting point.

Back to OP: I seriously doubt the Wii U wins this gen, but if it does, I think Sony and Microsoft will give a second thought how much power they put into their consoles.

Well, I suppose the first difference would be that creating new controllers and interfaces every gen would be the new standard, which I think would suck. I like traditional gaming where the focus is on the games themselves, not on new control schemes.

Second, honestly, I'm not even really sure I understand the question. The PS4/720 are going to be far beyond the PS3/360 simply because seven years is a huge amount of time in the technology sector. Why the Wii U isn't light years beyond the PS3/360, I'm not quite sure, though I suppose it must have to do with the cost of the gamepad.

That is true, but they didn't experience at home.  One can say they might of experienced it somewhat because they were in the arcade, and saw the decline in the West.

And both of those are declining markets.  Sony is taking a beating  because of the decline in TV and PC sales.  Tablets are eating into the PC market.  And people are using TVs less to watch stuff, and going more streaming online.

X, while looking quite awesome, doesn't scream next gen at all, visually. It does seem better than any JRPGs released on the HD twins (which isn't telling much, since we barely had any AAA releases from that genre this gen), but not really by a big margin.  But, you know, games on the PS360 still look great. So I don't see what the problem really is if people don't think it looks next gen. 

I'm not saying the Wii isn't capable of delivering much better visuals than the PS360. Just that using what we have seen of X as an example that the Wii U is clearly a gen above the PS360 is kind of strange to me.