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PS3 sales would be twice what they are. The feature list, and possibly the graphics on the PS3 would've been less than what we currently have. PS3 would continue to be the 3rd party console of choice (from a developer's standpoint), and I'd have $400 more bucks in my pocket. Also, if the mighty Microsoft had failed (and they didn't fail) I don't think any other company would've tried to compete anytime soon.

Nintendo would probably have remained uneffected, and still kicked ass this generation.