I honestly can't see MS or Sony really worrying that much about it in the near term. 2014 sounds pretty reasonable for both of their consoles simply because it would make sense. The WiiU will be more powerful than the 360 and PS3, the two next gens are going to need some tweaking and such, so...why bother trying before it burns itself out a bit with the rush? Let Nintendo have their head start. They sell some units and MS/Sony allow things to calm down before releasing their own new consoles. 2014 just seems like a reasonably solid business plan timeline.
However, there are a couple poison pills in the deal. One would probably be Vita sales. Sony's release may come sooner than later if the bundling and eventual price cut (next year, I imagine) don't build a tonne of steam for the handheld. There is a potential they could release 2013 if they feel it'll stem the blood flow a little. Next year is also possible if MS tries to get the jump on Sony, because Sony will have to answer back.
There's a lot of variables right now. I think it's far too early to even theorize.
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