PS3 and 360 have a longer life span in terms of their technology, but all the technology increases cost and also makes them more like high-end multimedia machines. At lease the Wii uses its technology largely for gaming purposes.
HD penatraion is very low (but its increasing all the time) so until the masses all go HD buying new HD screens a new HD sound system PS3/360 going to suffer.
To address the OP's question:
Wii will work on all current/new technology, PS3/360 needs £££££ or $$$$$ spent to get to best from it not something the masses want to spend out on. PS2 hugely popular with younger gamers/parents a £299 PS3 is not a nice price for these consumers to pay!!
Wii remote interaction is great fun and is proving very popular and games like Wii sports, Wii play gathering a huge fanbase (needs much more games like these!! with online!!)
PS3/360 look boring and expensive against this. Boring because the technology upgrade is so predictable and nothing really new or exciting. HD format war does not help, asking consumers to throw away their DVD player/surround kit to upgrade for a slightly better picture.
Graphics/Power will matter in the long run, but as many predict Nintendo will have a new console thats HD and compatible with all Wii, GC and VC games, be cheaper (to manufacture and to buy) than Sony/Microsoft and potentially more powerful.
But who knows what will happen....
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