I will be one of the few to say that the X1 will be on top at the end of the year.
Yau make a good point about smash, but I think one big factor that a lot of people are forgetting and underestimating is that the X1 is launching in 8 more European countiries, China, Japan, as well as some other smaller markets this fall.
Now while this isn't going to increase the X1's sales a crazy amount, it will add at least a couple hundred thousand sales for the launch period, and seadily bump the X1's weekly sales starting at the end of September.
Also, as some one else mentioned, 3rd party games such as Desitiny or Cod will bump up sales, as will thier 3 AAA exclusives which are each spaced a month apart to build up momentum, culminating with the biggest of the 3, the Master Chief Collection.
Now this is purely my opinion, but I don't think that Hyrule Warriours, and Bayonetta hold as much mainstream appeal as Forza Horizon 2 & Sunset Overdrive. They are both verry niche games, and I'm glad Nintendo is doing them, but I don't think they will have as much sales impact as thier competition.
Now as far as smash goes, I am curious to see how well it will do. Especially since it is comming out first to the 3DS. I think it will still move a good bit of Wii Us since it is the holiday, but will encounter simular boundries as Mario 3D World did last year.
I am also curious to see how good Halo MCC does as it is a remaster. I think that it will do great, and that MS will try to double dip with it by offering a bundle at launch and then making a discounted bundle (even cheaper) just for the holidays. I think it will arouse a lot of interest not only because of it's nostalgic value, but also because there will be a Halo 5 beta included in it, which curiously begins just 2 days after Christmas (hence why it will do so well as a christmas gift).