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Sales figures don't stop when a 'new gen' is released.

While I don't think PS3 will reach 127m, it will sell for a long long time assuming they keep bringing its retail price down.  It's very versatile and its graphics will always be 'good enough' for most people.  New gen consoles will have to really consider price, because they'll have to contend with PS3 being available at a (potentially) lower price and with a large, active install base.

LOL at those low Wii sales predictions^^.  Good thing I invested in Nintendo 6 months before the Wii was released.