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Yes.

Starcraft has a point about MS wanting to stretch the lifetime of a profitable X360.

There will be 6 years between the PS3 and PS4 (which will be released Oct 2012), therefor the Xbox 3 won't have to launch until Oct 2011 and still be one year ahead of PS4.

This gives us roughly these sales for X360:
LTD 1/1 2008: 16 mill
2008: 9 mill (effectively the peak year)
2009: 9 mill (same sales as peak year thanks to low price and a new Halo)
2010: 8 mill
2011: 6 mill (much lower sales in anticipation for the Xbox3)
2012: 2 mill (after all, Xbox has a bad history of overlapping into the next gen)
----------------

=50 million

PS3: 65 mill
Wii: 130 mill