I used to believe the PS3 had absolutely zero chance of coming within spitting distance of the 360. But, with the recent sales turnaround, I'm skeptical to declare a 2nd-place 'victor' so early. BOTH of their sales have increased, and many things can happen, as this generation isn't even half-over yet. For me, the events of this summer will be telling. It will be after MGS4, and neither will have a big game coming for several months. Unless one of them has an unexpected price cut (I wouldn't be TOO surprised if Microsoft did), we should see a stable trend.
BTW Microsoft HAS only cut the price $50 in its' biggest market in 2.5 years.