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I personally feel part of this Wii turnaround has been that they've finally managed to get a reasonable level of stock into the market.

The demand for the Wii has always been there, the stock just hasn't.

Couple this with some 'interesting' decisions by Sony in PAL land (MSG4 bundle at €439 instead of a more logical €399, intermittent stock issues all around the MSG4 launch) and you have some good reasons.

Basically (IMHO) the PS3 is hitting a wall because it's too highly priced (it's over twice the price of an Xbox 360 Arcade by now because Sony only seems to supply the bundles and not the standalones) and the Wii is only now beginning to fulfill it's demand because Nintendo is shipping more in.