Most certainly this upcoming generation they have a perfect chance. They have by far the largest worldwide support across the globe compared to their largest competitor Microsoft and they have one of the best if not the best set of first party studios out there. With their movie production umbrella and games becoming more cinematic every generation (They will always have a solid niche to go to).
As far as Nintendo, they have the potential and brand recognition and WW support to beat Sony but they have to make a lot of fundamental changes to how they run their business (See DVD/Blu-Ray / Third Party support threads) which I don't see them doing as they've never really had to fall on a sword.
I'm not saying the success of the Wii persay was a fluke, but in all reality it sort of was a perfect storm of factors for them to dominate the market. (Absurd high entry points of their competitors, new unseen technology, genres of games that appealed to different crowds.) Nintendo won't have that amount of factors again anytime soon.
Sony had realistically one of the worst launches they could possibly have had and have gotten to a point where they have almost salvaged 2nd place this generation and look to be in the best position moving forward in terms of various factors. I still believe the $200 price cut will move lots and lots and lots of PS3s.
As long as Sony sticks to it's simple formula of competitive graphic system, with familiar comfortable controls, excellent third party support and continues some trends this generation of top notch first party titles they would appear to be in great position to capitalize American markets as well as European and Japan they really will do solid their regardless.
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