fun game, pick the following:

Console Making Company - (Sony, Nintendo, Microsoft, et al)
Controller Type - (Motion Sense, Touch Screen, Gamepad, et al)
Graphics Quality - (HD, 3D, SD, et al)
Console Type - (handheld, home, et al)
Launch Price - (self explanatory)
Any 3 Exclusive Franchises - (mario, gears of war, gran turismo, et al)

and other details you feel like adding ^_^

mine:

Console Making Company - Joint Venture by Sony, MS and Nintendo
Controller Type - Gamepad and Motion Sense, games can use one or other or both
Graphics Quality - HD
Console Type - Home
Launch Price - £249.99 (being realistic, lol)
Any 3 Exclusive Franchises - Smash Bros, Gears of War & Gran Turismo

Microsoft home console HD 3-D, Natal & traditional control combo - launch price $399 and with Elder Scrolls, Assassin's Creed and Zelda as exclusive franchises.

Console Making Company - Joint Venture by Sony & SEGA
Controller Type - Gamepad and Motion Sense (Support Both and the choice is mine)
Graphics Quality - HD
Console Type - Home
Launch Price - $299
Exclusive Franchises - Since there making the console no need to list any Sony or SEGA Games xD

Metal Gear Solid
Final Fantasy
SMT

What's SMT? "Super Mario T"?

PS3 with more JRPGs.

You and JRPG don't mix at all >_>

I meant "Shin Megami Tensei"

lol, super mario T

Console Making Company - Nintendo, apple
Controller Type - Motion, Gamepad
Graphics Quality - HD, 3D
Console Type - Handheld with tv input
Launch Price - 250$
Any 3 Exclusive Franchises - mario, zelda, chrono

Hrm... I'm not exactly sure, but I guess I could see this:

Console Making Company - Nintendo. They make the most durable systems at reasonable prices.

Controller Type - Sort of a true hybrid. What I see is an SNES controller, with a touch screen in the center of it, and 2 IR pointers- one on the traditional top (where the wire went in on the SNES) and the other on the left side, so that it could be held like a Wiimote for the most possibilities. I also want a port on the bottom and right sides for an accessory like a nunchuk or whatnot, and yes, it has motion-sensing.

Graphics Quality - I really don't care. I just want it in color. (Though given current tech, I suspect it would be HD.)

Console Type - It'll have to be a home console. Though admittingly, remove the IR pointer and it may work as a portable also. The system also will move away from disc-based games, and back to cartridges, for the less moving parts, less heat, lower system costs, and more reliability.

Launch Price - I see something similar to the Wii launch pricing, since Nintendo likes keeping prices on systems down. Maybe $249.99 / ¥24,800 / £199.99 / €199.99.

Any 3 Exclusive Franchises - Well, if Nintendo is making it, their games are a given. So I guess I'll have to take the US's rendition of Shin Megami Tensei (since that is added to the Persona line over here, giving me both!), Dragon Quest, and hmm... how about Tales?

My backwards compatible PS3 w/ a built in PSP UMD drive.

BEFORE YOU READ THE STUFF BELOW, READ THIS!!!
I am fully aware of the fact that the console below doesn't stand a chance of ever becoming to reality. But that's why it's my DREAM CONSOLE! F*ck realism for once. Reality sucks ass! Here's the console I'd like to see, not the console I think I'm gonna see in the future...

Console making company:
A fictional company I'm too lazy to make up a name for, would be the creator of the console. Shigeru Miyamoto would be the mastermind, having left Nintendo after Iwata said mean things about his mother... (Yay for irrelevant fan fiction...)
The controller would be similar in shape to the SNES controller, but larger. It has a touch sensitive control pad to replace analog sticks, 4 face buttons, 4 shoulder buttons and obviously motion control support.
The graphics would be superior to the PS3, but nobody would give a damn about the graphics, because the company has hired Hideo Kojima, Keiji Inafune, Shinji Mikami, Goichi Suda and everybody working at Naughty Dog.
It'd be a home console.
Launch price: Since pretty much everything so far has been impossible, I'd like to say something like, $50 or something, but I'll try to be realistic for a change and say that a console containing this much win should cost at least $449 at launch.
Aww... I was having funz...  
Well, if I must limit my final answer to just 3 franchises, I'll say Zelda, Mario and Uncharted. (Sorry Metroid, but the Uncharted franchise has a ton of potential...)

BTW, don't ask me how this fictional company swooped the rights to Mario & Zelda, this shit is fictional!