I think one thing missing from the original post is that when the 360 was launching online gaming was starting to take off on consoles and it's hard to imagine Sony being able to put up much of a response to Xbox Live using the PS2.
Another is about the support the 360 has gotten. Sure a lot of it is thanks the the PS3 but a fair amount is also because of the PC and many of the biggest games for the 360 probably still would have been made regardless.
Ones that really stands out are Modern Warfare 1 and 2. Call of Duty 2 for example wasn't even released on a Sony console and was still a sales success so those games probably would have still came out and possibly as 360 console exclusives.
Also games like Gears of War might have had an even bigger impact since the PS3 wouldn't have been waiting in the wings and more gamers might have been attracted to the 360 because of it and other HD games.
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