Having attended two E3 shows in 2002 and 2003, I can safely say that the show that used to be incredibly cool is now a shadow of its former self. By taking the fans out of it and making it invite only, that takes the life out of it, and I wouldn't go now if I got an invite.
Even then, the show basically peaked before it ever started with the pre-show press conferences. (Which were awesome to attend, BTW. Far and away more exciting than the show itself.) Now, since the common fan can't get in to get hands-on time themselves, they basically just want to see the big announcements from the press conferences and then they'll pretty much ignore the rest. The descriptions of other journalists' hands-on experiences makes for a pretty boring read (IMO), as opposed to getting to put the games through their paces yourself.
I think Nintendo has the most to gain this year. They've basically got a blank slate for the second half of the year right now, and I'm guessing they fill in those blanks at their press conference. MS and Sony have their big hits pretty much out there for all to see right now, so they have to try and build the hype on games like Gears 2/Fable 2 and LBP/Resistance 2.
What makes it hard for Sony and MS is that announcements of new games always make for bigger stories than updated news on already known games. I think Nintendo has a pretty good grasp on that concept, which is why they're always so shrouded in secrecy with pretty much any game they make, right up to the point they want the public to know about it. I mean, think back to the unveiling of Twilight Princess at E3 a couple years back. That became THE story of that show, even though there were just as many big offerings on the horizon for the other consoles, and it was pretty much because Nintendo hadn't even let on a shred of an idea that the game was coming.
Nintendo manipulates the hype machine very well, and I doubt that will change in a couple weeks when E3 2008 rolls around.
The dedication you show to any particular console or company is inversely proportional to the number of times you have gotten laid. If you get laid enough, even if you prefer a certain brand, you just don't give enough of a shit to argue about it on the internet.
