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Microsoft Best:
+one year head start
+bought/sponsor 3rd party exclusives

Microsoft Worse:
-bad hardware design - RROD
-too focus on FPS, and eventually labelled as "FPS only" console


Nintendo Best:
+innovation: Wii motion controller and IR pointer, DS touchscreen
+bring in new audience by introducing casual games genre, family oriented games, party games
+mainstream pricing of consoles
+lower development cost for developers

Nintendo Worse:
-not enough disc space for VC/WiiWare/other downloads
-lack of good quality 3rd party support
-underestimate demand, lost sales

Sony Best:
+introduce 40Gb PS3 in time to gain back market shares
+bring back rumble to PS3

Sony Worst:
-no killer games at launch (should have move GoW2/FF12 to PS3)
-many poor hardware decision (controller without rumble, powerful processor but difficult to write codes, bluray increases PS3 cost)
-marketed as converged devices, and gaming become secondary. this leads to bad software sales in PSP.