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This all will change in April, MS is just being a victm of generation fatigue, and Rare is having a hard time trying to relive their glory days,
However, if MS bring their big guns, and I think they will, in April, this all will change. The hollodeck (Ilumiroom) thing alone could make me buy the 720 if it is as cool a it sounds. Also, I am sure the specs will be impressive.
Now, it looks bleak, but everything will be about MS after April. And, XboxLive is down on prices, maybe the new console will rethink this issue too.

Also, Sony better have some aces up their sleeves, going first is great, but there is always the danger of being forgot first.
All and all, Nintendo seems to be the easier of the bunch to bash, their new console is out and not everyone is impressed, so, expect to see some criticism towards them through the year.
But, next month MS will make all haters speechless, so, hold on.