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Microsoft needs a good E3 most to promise better 1st party output in the future. Whether or not that will happen remains to be seen.

Nintendo would benefit well from a good E3 and H2 to compensate for a lackluster H1. Probably will with some of their most anticipated games on the horizon.

Sony needs a great E3 least atm, though you don't want to get complacent. Should be solid with gameplay from lots of announced titles, though may be light on surprises.