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The 360 may be in the lead now, but the Wii is still ahead by quite a margin, and will likely stay ahead when all is said and done. The 360 may get within 2-3mil in the US alone of the Wii, but it hasn't 'won' yet, even if it is the most dominant ATM.

So yes, it's very easy. Look at the PS2-PS3, and (what seemed to be) the DS-3DS, although it seems as though that's all under control now.



 

Here lies the dearly departed Nintendomination Thread.