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Nintendo:
+ Great gameplay focused franchises
+ Fun party games
+ Know how to innovate and market something as new
+ Family friendly games I can play with younger family members

- Inability to get third-parties on board
- Currently horrible online
- Don't always release games in great franchises
- Over reliance on old IP to sell new games in different genres

Sony:
+ Good variety of exclusives
+ Push console technology
+ "Mature" themed games
+ Open environment online (willing to implement Steamworks)

- Pushing expensive proprietary formats (e.g. memory cards)
- Security concerns due to PSN hack
- Removal of backwards compatability on PS3
- Sony in general seem to suffer from a lack of communication between departments which shows in the lack of support for non-game media on the games machines

Microsoft:
+ Some good quality franchises on both X-box and PC
+ Good controller for FPS and has connectivity on PC
+ DirectX
+ Kinect has potential, although it's not fully realised as yet

- Forcing users to pay to play online
- Poor support for PC players with a sub-par GFWL service
- Restrictive online (no steamworks, approval system means few MMOs, few games use dedicated servers)
- Closed many PC centric studios