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It seems this week (the one not yet posted for VGC: ending 20th December) there will be a 5th crossover of lifetime sales between the 3 home consoles.
http://vgchartz.com/hwcomps.php?cons1=Wii&reg1=Italy&cons2=PS3&reg2=Italy&cons3=X360&reg3=Italy&start=39096&end=39796&weekly=1

Originally of course, the X360 had the lead being the first one launched. The Wii launched and sold parallel to the X360 at first, and this slow start meant the PS3 with a huge launch week was quick to catch up and pass the Wii when it launched. The PS3s continued dominance in Italy continued for the Christmas period of 2007, for which the X360 didn't really seem to get a boost, and so before the end of the year the PS3 had already passed the X360.

The Wii did recieve a generous boost for Christmas 2007, but it wasn't enough to catch up with the X360 immediately, and in January Wii seemed to fall to weekly sales below the X360 again. However, a steady increase in sales meant it was eventually selling almost holiday levels during Spring, enabling it to catch ad surpass the X360 in late May, and make a run at the PS3 totals too. While it did slow down in weekly sales, it still managed to pass the PS3 and become the number 1 home console this generation in September.

Finally, over the last few weeks as Christmas has taken effect, it seems this year it will be the PS3 (rather then X360) with no significant boost. Perhaps the Italian market doesn't like to support more than 2 consoles for the holidays? Or perhaps it is just an unusual coincidence that both 2007 and 2008 saw a console fail to rise for Christmas. Whatever the reason, the X360 is now poised to surpass the PS3.

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This chart is the weekly sales version of the chart linked above, which helps to show the close fight between all three consoles in the weeks after PS3s release as well as the Wiis steady increase through early 2008, and the absence of a holiday boost in 2007 for X360, and not an absence, but a very small boost for PS3 so far in 2008.
http://vgchartz.com/hwcomps.php?cons1=Wii&reg1=Italy&cons2=PS3&reg2=Italy&cons3=X360&reg3=Italy&start=39089&end=39796

And this chart shows the small scuffle between DS and PSP in their early days, but this fight was reflected around most other markets too, so is not as odd as the fight between home consoles.
http://vgchartz.com/hwcomps.php?cons1=DS&reg1=Italy&cons2=DS&reg2=Italy&cons3=PSP&reg3=Italy&start=38368&end=39103

And finally, the early days of last generation shows there was no such tussle, the 3 consoles positions were pretty much set in stone from the beginning back then. (GameCube and X-Box may look close, but the XB was consistantly selling more than the GC, unlike what you see in the weekly chart for this gen)
http://vgchartz.com/hwcomps.php?cons1=GC&reg1=Italy&cons2=PS2&reg2=Italy&cons3=XB&reg3=Italy&start=36954&end=37969