Same as it happened last time. Microsoft will come out of the gate first with Nintendo and Sony following shortly thereafter (probably a lot closer this time. I expect MS to start detailing it's next console in either late 2010 or mid 2011. Expecting a late 2011 release (360 will have been on the market for 6 years btw before that). Expecting Nintendo to start talking about their next console as early as E3 2010 but not anything firm til E3 2011 with a 2012 release date. Same kinda setup for Sony.
More than likely we'll be starting the next generation talks by 2011 and be in it fully by 2012.
Of course this is all very early and just what I would think based on previous generations would happen. Of course dates could be too early or too late and who comes out first could be different. But this is what I've been thinking since about 2007 so going to keep sticking with it.
