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This is just my opinion passed off as a sales prediction thread.

It is possible that it may or may not happen. But  the evidence of the sales over the next 4 or 5 years will show the PS3 fights back and reduces the sales gaps on the Wii. PS3 may get very close to the Wii's sales total in the end.

The PS3 will sell at a faster rate than the Wii in the next 5 years. The PS3 sales will increase as it approaches the $199 mark within two or three years time. Expect $249 price point in 2011 and $199 price point in 2012 or 2013. But a price drop from $299 to $199 in 2011 is a remote possibility

PS3 reduced its sales price 15 months ago from $399 down to $299: 25% reduction in price. PS3 has experienced an  increase in sales in year on year sales from 2009 to 2010.  It is unlikely the PS3 would reduce the price from $299 down to $199 a 33% price reduction in 2011. A price reduction from $299 to $249: a 17% price reduction is more likely in 2011, followed by another $50 price reduction in 2012.

Dropping sales price dramatically reduces revenue and has an adverse impact on profitability. The unit costs would have to reduce by more than the sales price reduction to make the price cut worthwhile. 

Wii reduced its price 12 months ago from $249 down to $199: a 20% reduction in price. Wii sales peaked at Xmas but in 2010 the sales have slowed down on year on year sales.

Both Wii and PS3 will sell over 100 million console systems this generation. I stand by this prediction. X360, I have no idea how much it will sell life time: maybe 65 to 70 million sales ltd.