looking at Nintendo's track record they always stagger their handhelds and consoles and with the launch of DS demo station and Ninty's step into download games and DLC I think it's more likely they'll be a new handheld thats slimmer with a storage capacity of some sort.
That alone pushes a new console back to 2011 (if the handheld launched next year in 09) at the very earliest - 2012 is more likely.
MS will be first in my opinion as the wii will still have the casuals attention, the PS3 will have moved comfortably into 2nd and they'll be floundering.







