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I'm still anticipating new consoles in 2012 - though I think there's more reason than ever for Microsoft to continue support for the 360 beyond the 'Nextbox' release. They've invested a tonne into Natal and will want to keep a healthy install base to sell those games to, as well as the obvious Gold subscribers probably handing MS over $600 million p/a. They won't be in a hurry to just drop support and then attempt to 'win-back' those subscribers.

So no...irrespective of positions and bragging rights I think they'll see that there's a lot financially to warrant extending the life of the console.