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@OP fun thread

Most of what I think has already been said, so I just have one thing to mention:

Even though I am loving my PS3 at the moment and would definitely prefer a PS4 over a Xbox720, I MUST SAY that if MS launches the 720 in a year or so and it completely destroys the PS3, then I would be seeeeriously tempted to pick up the console. 

One problem with MS doing this is that a game needs a colossal budget for it to make games like Uncharted, Killzone, GT (lets hope for 6 eh) Final Fantasy etc.  LOOK dated. Publishers might be a little reluctant to invest such large amounts of money for a small install base while the PS3 will be selling for $99 and become the hottest thing on the market.

I think MS could be walking into a trap.