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MS recently said that the new Slim Xbox was beeing released in the middle of the total Lifespan and that the Xbox360 still has 5 years time. (Hopefully this will end this 10 year plan joke since MS is on the same plan as Sony)

PS3 is still at 299. And I doubt this was the last PS3 Slim. 5 Mln (or 6 if it goes really well for MS next months) is not that much if we are in the middle (like MS and Sony said) of this gen.

The Industry cant afford the high development cost increase which is coming with a new platform yet. So they most certainly are going to support PS3 and Xbox360 a while longer. Like Sony said its a Marathon and not a Sprint. Nothing is set in Stone yet.