Probably, its likely that they will follow divergent strategies in the next generation or copy where they think Nintendo is going this generation. Whether they work depends as much on implementation as well as how the other companies strategies relate to each other.
For example: Microsoft goes all out for performance and both Sony and Nintendo follow each other.
Pro: Early adopters like high technology.
Pro: Can implement features like Co-Op in all games when other consoles cannot (for example)
Pro: If all consoles are the same, its a point of differentiation with the competition.
But if for example Sony does the same thing, then its not as safe a position to be in.
I would say that Microsoft of all the companies has the most incentive to use high performance because they have the PC market they can synergise with to justify the performance of the console. Sony doesn't have that luxury for example. It also follows that they will be the only company able to loss lead to any apreciable degree next generation considering their Live subscription service.
Thats just an aside, in any case I expect Microsoft to play the Windows card in the next generation because a next generation interface makes it plausible and its one market they need to enter before any competition gets any apreciable traction there.
I expect Nintendo to play the Wii card like they did this generation, simple and elegant solution. Its pretty much assured that as far as interfaces and design are concerned they will follow on from the Wii with another Wii.
For Sony, they have done the most research using cameras and I would expect them to use that type of interface as they can also upgrade the PS3 quite easily if they adopt it. The Cell processor also produces the level of floating point OPs you need to implement a good camera interface and I said it before, the PS3 is the only console this generation which can implement it properly. They also seem to be involved moderately with 3d, so they might head down that route also.
Tease.
