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This is my predictions
XBOX 360 gets a 6 year life before the next version gets introduced, In the next generation they dont just kill it off like they did last time and they gradually move to the next platform.
PS3 will probably get a 5 year life before their next version comes in, in their case they will most likely do what Nintendo did the last year of Gamecube and have only limited titles and then quickly phase out PS3.
Nintendo Wii will probably go 6 years before they release new hardware, Nintendo has always enjoyed being late to the party anyway.
So I guess my predictions would end up being new Xbox and Playstation in 2011 and next Nintendo in 2012.