If all the right ingredients are there then I consider this a possibility. I agree a significant price cut is needed, Gran Turismo 5 will be needed for Europe, Killzone 2 will need to be a sustained hardware pusher for North America, Final Fantasy XIII needs to be released in time for Japan.
360 sales will have to slow down as well but with its most antcipated games already out and all popular XBox games having already seen sequels I think this is likely to happen in the course of 2009.
Hopefully Blu-Ray continues to outperform DVD and consumers will get more educated on differences in console specifications in general. Playstation Home may become a selling feature.
But IMO it wouldn't be a shame if outselling the 360 install base happens in 2010 considering the 360's huge headstarts (and entry pricing as low as 119 Euro, including 19% tax and free games).
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