North America:
In my opinion Sony has already lost North America with the PS3 and will ride out the rest of this generation in third place. Titles like MGS4, FF13, and Killzone 2 won't be enough for them to turn the tide.
Japan:
Both MGS4 and FF13 should help the PS3 tremendously in Japan where the Wii could be vulnerable to the PS3 in the long term if the PS3 begins to have a strong library there. It's also not just big exclusives that will help the PS3, multiplatform titles like RE5 will have a much larger impact with the PS3 in Japan and help sell many more units (as opposed to North America and Europe where such multiplatform titles don't really push the PS3 any more than they do the 360).
Europe:
Sony has the advantage of their Playstation brand name being much stronger in Europe than Microsoft's Xbox brand which has caused Europe not to become a total rout for the PS3 like in North America. It's likely that the PS3 will end the generation in at least second place but it's not a given. If Microsoft is serious about focusing their attention and working hard on capturing marketshare in Europe then the PS3 may have a real fight on it's hands and MGS4, FF13, and Killzone 2 will be extremely important.
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