Well everyone who's not named Nintendo needs a big E3. Basically Ninendo could have a horrible E3 and the month after the DS and Wii are still selling phenomenal. A good chunk of the Wii base isn't going to give a rat's ass about E3.
Sony obviously needs to show great stuff. I think they need to prove the ultimate power of the system is superior to the 360. And they must show in some form MGS4, Final Fantasy XIII, and preferably Gran Turismo 5. Basically those are 2008 titles (we'll see about MGS4), but I and others have come to the conclusion that 2007 is not going to be the PS3's year. It's 2008 when they have to make a kill. Sony has to put doubts in the heads of PS2 owners leaning the 360's way.
Microsoft probably needs a big E3 just as much as Sony. Microsoft still trails Sony as a brand name in the video game industry. The vast majority of gamers have never concidered buying a Microsoft system, while the vast majority of games actually have bought a Sony one. The 360 needs to show itself as more than just a limited appeal console. If the 360 continues down the path of getting virtually no young gamers, casual gamers, or women gamers to buy their system, you can bet easily they come last place this generation.
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