That doesn't mean the PS4 won't come out before 2016. I'm sure it will have a 10 year life span, in as much that the NES had a 10 year life span in NA and longer in Japan. They'll keep "supporting" it well after the successor is released but if anybody seriously thinks the PS3 is going to be competing for exclusives or getting decent multiplatforms from the Xbox or Wii's successors in 2015 they are either joking or crazy.
Less than eight years after the PS2 was released in NA and the software support is drying up. The big AAA exclusives go to newer consoles and any ports the PS2 receives are usually gimped due to technical limitations of the console. And that's talking about the most successful console in video game history. The PS3 will have nowhere near the same support from third parties and its' library will dry up much quicker.
The PS4 will be released in 2011 or 2012, 2013 at the latest.
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