The 360 started off the year with a bang. Mass Effect 2 is alot of fun. Imho, Mass Effect 2 is the best game in quite awhile. However, the PS3 has some serious games coming shortly. God of War 3 is coming in March. Heavy Rain is getting good reviews while Alan Wake is not out yet. Not to mention, the monster that is GT5 in the fall. I think it is a little early to write Sony off.
The motion controls is leaning Microsoft's way true, but neither product is anywhere close to shipping. This also does not say anything about a surprise from the big N. Still, I do think this will be a good year to be a gamer.