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Thing is that Sonys inversion with the PS3 development will pay off in the long term too.

They have pretty much the hardware for the next console .

As CPU the Cell architecture is still in its begginings and is 100% escalable.They could put a motherboard with 4 ,6 ,8 or whatever the number of Cell is required.And in 2013-2014 it will be quite cheap.Or use the new Cell+ for that motherboard to have even more power.With 45nm production they could even pass the 3.2 gigaherz limit.

As GPU they have a long term agreement with Nvidia.Nvidia will provide the better card they have at the moment.At least it will be as powerful as anything the competition throws.

Storage .The Blu Ray with 6x reading speeds and up to 200Gb of disc space at 15cts cant be beaten by flash memories that cost a lot more.And they will provide a 250Gb HDD at the least.

Online.They have a working PSN that although still second to Live is perfectly competitive and for free.In 2013-14 Home will be implemented since many years and the difference between MS and Sony in this will be negligible.