Under the present circumstances, given inaccurate pre-launch expectations/predictions and surprising developments since, I think there's more cheer on the Nintendo fanboy end (Wii is doing much better than expected even by fans, a major boost for long-time loyalists) and more anger on the Sony fanboy end (PS3 was expected to blow everything else away on release, it sucks that negative possibilities are even being talked about.)
But both sides are capable of degenerating into pointless "told you so/power doesn't matter" and "just you wait/simplicity doesn't matter" arguments driven more by emotion and enthusiasm than facts, sales or even well-supported arguments. The final market and industry verdicts will only be rendered in due time, and even relatively unsuccessful systems will have several killer titles well worth playing.
(In the interest of full disclosure, I own an Atari 2600, Mattel Intellivision, Atari 5200, NES, TurboGrafx-16, SNES, Genesis, Jaguar, Playstation, Saturn, Dreamcast, Gamecube, Playstation 2, Gameboy Advance, GP32X, and Wii. Haven't quite taken the plunge on the PS3 and/or 360 yet, waiting to see how things pan out library-wise. Whichever one I don't buy I will eventually pick up on the rummage sale circuit.)