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Microsoft will likely jump the gun early again... but I but there new console will offer only better graphics and better online, I doubt they will add motiion control. My guess is 2010-2011 it will come out.

Nintendo is likely to come in 2011-2012 and will probably have 1:1 motion control, HD grpahics, and better online.

If sony wiats until 2020 to replace the ps3 they will get blown out of the water. The way things are headed though, I doubt they will. I bet sony will offer up something very similar to what nintendo will offer, but slightly better graphics, better 3rd party support, and with a slightly higher price tag.