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No matter what happens from here on out, the 360 can only be considered a massive success for Microsoft.
Last generation, the Xbox was outsold 6:1 by the PS2, and was treading water with the Gamecube, which was back when Nintendo 'on its way out of the console business.'
This generation they are a very worthy competitor to Sony, and have done a better job than them in many areas.
The 360 has cemented Microsoft's status as a serious competitor in the console market for many years to come.
(I for one believe that they will have the highest selling console not in the next generation, but the one proceeding that [if history follows, the market leader stays the same for 2 generations before changing hands])