It could depend on how the consoles do in Asia. FFXIII and FF Versus XIII being exclusive to the PS3 in Japan already mean that the PS3 is going to beat the 360 in Japan. That is a done deal over and out. Even more so than the fact that the PS3 isn't likely come back on the 360 in the US unless some extended gen for the PS3 versus a new Microsoft console scenario as I've already painted comes about.
I do believe the PS3 will do better than the 360 in Europe with a price cut. Would MS counter the price cut? Probably, but it took two substantial price cuts for the 360 to be able to outsell the PS3 in Others late last year.
I don't know how these consoles are going to do in Asia, if the Asia trend follows the way things go for the PS3 in Japan, then it could very well get second place based on a stronger following in Asia (Korea, China) alone though.
Heavens to Murgatoids.