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Kenny said:

In fact, looking at what was done with the Wii version of CoD games, it's not that much of a stretch to say that Activision's been actively sabotaging their own efforts.

This is pretty key.  Compare the ways Activision nurtured Guitar Hero on Wii (always day-and-date release, grew to feature competitive in just 1 year, well advertised and promoted) versus what they've done with COD and the results speak for themselves.  I sort of doubt COD ever could've led on Wii like GH does now, but I think it could've maintained sales on par with the PS3 version (meaning an extra 3-5m+ each year, for relatively little investment).