I think the next generation will look similar to the current generetion. Both PS4 and the next Xbox will be expensive and will be outsold by the WiiU in the 3-4 first years. The WiiU will see its sales go up with a price cut the same manner it did when 3DS got one and also when Nintendo big guns will be launched.
Nintendo will still struggle to get major 3rd party support but will sell better relying on its first and second party titles and a few 3rd party (Monster Hunter, Dragon Quest, Ubisoft titles, etc.). The graphics gap will also be smaller than what wee see last gen between Wii vs. PS360.
Sony and Microsoft will still fight for the high definition shooter crowd where Sony will do better in Europe while MS will do better in America.
This is what I think will happen unless Microsoft show a revolutionary console in April as Sony clearly not showed anything revolutionary this week. Also I think the three consoles will sell less than their predecessor and that the generation cycle will be shorter.
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