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I think it's going to be a really good E3 for the both of them.

Sony

 

  • They're going to strut their stuff and brag about sales and such
  • Showcase the rest of 2014's PS4 line-up along with release dates, trailers and such: Drive Club, The Order 1886
  • Announce a couple of new AAA PS4 games: Media Molecule's new IP (Entwined), and Sony Bend's new game (Syphon Filter: Kill Strain)
  • Talk about the Vita and how they plan to revitalize it: Show off a bunch of games like Freedom Wars, Murasaki Baby, and Soul Sacrifice Delta. Probably announce a notable new one like a Gravity Rush 2
  • Talk about cross-buy games: like Helldivers and Natural Doctrine. Possibily announce a new one like maybe a Sly Cooper 5 from Sanzaru games coming to PS4 and Vita
  • Full details on Playstation Now and maybe some other PS4 apps 
  • An indie segment. Hopefully a little shorter than last year
  • Talk some major third party games: Probably show off Destiny and the new Assassin's Creed
  • Uncharted 4 details and gameplay: Coming holiday this year
  • Close the show by re-announcing The Last Guardian coming next year to PS4
Microsoft
  • They're going to open with third party games before they do their usual, "From this point on, everything you see will be exclusive to Xbox One."
  • I expect a new trailer for Final Fantasy XV at Microsoft's show. To remind people that it isn't just a Sony franchise and hopefully resonate a bit with the Japanese audience. The new Call of Duty will have its coming out party here.
  • I also predict that Resident Evil 7 will been seen first here. That will get some folks buzzing. It will probably be Microsoft's idea of appealing to the Japanese market.
  • We're going to get a positive spin on the Xbox One's sales. The console really is doing very well, just not as well as Sony's
  • Announce season 2 of Killer Instinct with the reveals of a few new characters and a new mode coming before the end of the year
  • Announce this year's Forza title
  • Go through the rest of their 2014 line-up with release dates, trailers and such: Quantum Break, Sunset Overdrive, Project Spark. They will also confirm Halo 2 Anniversary
  • They're going to do their own indie segment full of console and timed exclusives.
  • Announced several new games: One New IP, One new installment in an older franchise (These games probably from either Lionhead, Lift London, or Rare)
  • Wrap with new trailers for Fable Legends and their next Halo game. Both of which will be 2015 titles.