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The Wii will sell more in 2009 that in 2008. I might even sell more in 2010 as well. You do not release a new console when the the sales for your current console are still increasing.

Hopefully we see no new 360 or PS3 coming out until at least 2012. There is really no need for them at this point. The current economic conditions also make launching a new console anytime soon less likely.