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PS4 won't be out for 7 years from the PS3 launch, and i would expect atleast 6 year lifespan for 360/wii. But if xbox makes the 720 i would expect Nintendo to come out with another console in that year, since the wii is so far behind the 360/PS3 as it stands now.

The next xbox and PS4 should come out at $500 US max, maybe even $400 depending on how cheap stuff is.