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Problem is, Kinect will not generate $70 million sold 360s.

Problem is, motion control gaming was done first by Nintendo at a much lower entry point for the casual consumer. If the casual consumer who knows nothing of gaming picks up either the PlayStation 3 or 360 for Move or Kinect, then they will be forking out $400 for hardware. Upwards to $500 if we include a game or three.

So no, Microsoft's 2010  E3 was not Nintendo's 2006 E3 because we are halfway into the current console generation, Nintendo has the casual market locked down, the hardcore is divided between Sony and Microsoft, and Nintendo dropped an egg on it's competitors with the 3DS.