I've never bought a console at launch, so it's a moot question for me. I always wait for software to build up while I happily enjoy PC gaming. I don't mean this to sound like a fanboy comment at all, but I've found that having a gaming PC largely negates the need for an Xbox. I miss Halo, which I'd love to play, but not much else (not a Gears fan). Thus, with a PC, I get the multi-plats, so I'll have no problem waiting until the PS4 is released and has it's first price cut and/or redesign. I'm a Sony fan because of Worldwide Studios and their awesome exclusives, which obviously I can't get on a PC.
Microsoft is probably the one in the trickiest position. They had a year's head start this gen, yet will still finish last in installed base and sales rate and probably in total units sold. This time around, however, Nintendo is out of the gates first, which will almost certainly cut down the 720's ability to build an installed base. How will it fare without the saving grace of a significant head start? It's also the weakest brand globally and mainly depends on third-party titles to push hardware sales. It will be fighting for multi-plat sales with the Wii U it's first holiday season, then probably the Wii U AND the PS4 the next holiday season.
