To put things in context, PS3 sold about 3.5m in it's first 3 years. Saturn sold about 5m in the same comparable timespan.
PS3's on the rise now, but sales are accelerated by the slim+price drop (encouraging both new AND repeat buyers) and probably the best year of software releases it'll ever see (FFXIII, RE5, Vesperia, Yakuza 3, etc). PS3 selling more than 8 million by the end of 2012 would be an absolute best case scenario. Consoles tend to hit a peak, and PS3 won't move 1.5m+ annually for the next 3 years running. PS3 does have an advantage in this cycle being lengthened though, something that prematurely cut off sales of other secondary consoles like Saturn or GameCube.
If anything, I'd say Wii's more likely to rebound after this year than PS3. It still has the biggest console game yet in the wings (DQX, which will likely almost double FFXIII's sales), it has a stronger upcoming 1st party lineup (Galaxy 2, Other M, Zelda vs GT5, WKC2) and has only just had it's first pricedrop and alternate color in the past few months. Lots of potential.
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