It's weird. I feel like my financial sense (I hardly have one xD) and my personal opinions are fighting each other.
Financially
I feel Sony is in the most trouble. Granted, their gaming division is one of the most profitable. So I suppose even if things start getting worse, they would just restructure a bit and put more effort in focusing on the Playstation brand.
Microsoft is probably in the best position as they obviously have more money at their disposal.
Nintendo is sort of in the middle. They have more money than Sony and less than Microsoft.
Personal opinions.
I feel/think Microsoft will focus on the casual crowd too much next gen (which is the same group who are now mostly using smartphones and tablets to do their gaming) I think a lot of their core fans will be disappointed with the direction they are taking, and will jump ship to either Sony or Nintendo.
I believe Nintendo is in a good enough position to start next gen but it doesn't seem like they are doing anything to become more than a machine to play games. Many have already said (though I don't know if it's true) that next gen will be defined by a consoles abilities to do more than simply play games. I'm talking about becoming a multimedia hub (which I could care less about, but apparently it's important). Their 3rd party support will be very important to how people view the console. Will it deliver on the promise to please core gamers? Or will it be a Wii repeat?
Finally I think Sony is going to focus heavily on the core gamer next gen. I think a lot of Microsoft fans who are displeased with the new casual stance of the 720 will find themselves in Sony's camps. It'll be a battle between Nintendo and Microsoft over the family oriented/casual crowd (not saying they don't have core games, but I see both of them being a lot like the Wii was this gen). I believe Sony will see this and simply establish the Playstation as being THE console for the gaming enthusiasts out there, all while delivering the multimedia aspect that is supposedly to be expected of consoles next gen.
Just my guess :p
