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Sony has the least reason of any of the three to announce a new console at this point in time, so I would guess that I would feel like they're jumping the gun a bit.

On the other hand both Nintendo and Microsoft need new consoles.

Nintendo to bring their tech up to par so developers might consider putting versions of the big Western third party titles on there and so that what their console offers in core games can be comparable to the core offerings on the other consoles.

And Microsoft because their sales are stagnating with 360 due to a lack of quality games over the last couple of years and bad pr from the rrod issue.

Both need blu-ray as its becoming the standard format next year while dvds like cassettes and cds before them will be being pulled out of stores.