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Microsoft is the E3 champ 3 years runnin and I doubt they'll loose the title this year,they actually look even more dangerous this year because they've been so quite so far I expect alot of huge anouncements for E3.Halo 4 is being reserved for the launch of the next xbox but I'd expect to see the Peter Jackson Halo project unvieled,also all this talk of stealing exclusives,those days are over lets face it,99% of the next slew of 3rd party titles will be mutiplatform including MGS5 and thats a fact.
Both companies have there respected IP's,Sony with Resistence and MS with Gears etc. and both companies have strong 2nd party developers Sony probably has more in house development studios then Microsoft but I think Microsoft will catch up,as it stands I think we'll continue to see more exclusives on PS3,but they'll continually get overshadowed by one or two huge exclusives on 360,this has been the case since the begining,rememeber sony was like we have lair and heavenly sword and resistence,and xbox was like yeah well we have Gears of War so suck it bi#*h.Then sony was like we have motorstorm ,MGS4,drakes fortune and little big planet,and Xbox was like oh yeah well we have halo 3 and Gears 2,suck it bi#*h.So here we are 2009 Killzone 2 is here God of war 3 on the horizon,so what will be Microsoft's suck it bi#*ch answer to Sony this year?Who knows but it will be huge.