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The best answer I can think of is "it depends" ...

The leading console tends to have a long life because (regardless of what happens) third party publishers see value in producing games for 10 years (or more). Trailing consoles tend to have trouble maintaining support from third party publishers after 4 or 5 years because development resources have to be redirected towards new consoles (and typically come at the expense of the trailing consoles).

Now as long as Nintendo and Sony see no need to release new consoles, and no new company (Apple, Google, etc.) enters into the market I think the XBox 360 can last 7 years ...