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Nintendo: As long as Nintendo makes money on their consoles (like they did with the GC) they will stay in the race.

Microsoft: The XBox is only a stepping stone to their next destination. They are trying to get their OS into the mainstream TV market. People don't accept PCs hooked up to the TV yet. The XBox is an iteration closer, the 360 closer still. I think their next one is going to be what Sony tried to do this time: The be all-end all entertainment system. So there will be another.

Sony: Sony may have lost a lot of money, but they were at one time a success and I don't think a one time failure is going to deter them from trying again. But they might not have the resources this next time that they had last time.