I honestly don't think Microsoft can win a generation, at least in the foreseeable future, they don't have the first party or worldwide appeal i.e. all markets. They have done very well this generation and could do even better next gen but not well enough to dominate.
I think Nintendo will. History seems to suggest that once a console wins a generation they carry that momentum into the next generation. Third parties are aware of this so I expect Nintendo's third party support to be much better next gen. Good third party support, Nintendo first party games and solid hardware is a combination that will be hard to beat.
Having said that I honestly think next gen could be a very closely run race but if anyone is to dominate, I feel it's most likely to be Nintendo.
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