Theres nothing from this generation which will significantly help Sony in the next generation. The Cell processor may infact hinder Sony more than it will help them if they are forced to make a decision between more powerful hardware and backwards compatible hardware.
Blu Ray isn't the only high density disc format. Its quite possible that both Microsoft and Nintendo go for the native Chinese HD format disc which is based on HD-DVD because of the fact that it'll likely be cheaper and there will be no widespread adoption for burners of that disc format. Playback of Blu Ray in 2012-17 may be as meaningless as playback of DVD was to the Wii, I.E. a non event if the console doesn't have it. Its also an obvious cost cutting measure if it can cut the cost of the console by 10-15% at launch.
Microsoft is in the best position to release the most powerful console next generation if they so wanted. I don't really think it matters that much anymore unless the difference is accutely noticeable from the perspective of the general public. They aren't tied down to any particular hardware because they forced the developers to not write to the metal on the Xbox 360 and instead interface directly with an abstraction layer. Microsoft knows the direction of GPU technology almost as well as ATI/Nvidia do because they are the mediators of the Direct X specification which dictates the direction of graphics hardware. Since the GPU will be the most important hardware for visual fidelity next generation, Microsofts 12-36 month lead in knowing where the roadmap is going is valuable.
In the end it'll be about the games, ecosysem and gameplay experience. I don't understand this fascination with the hardware when the hardware hasn't signficicantly altered the courses of any generation for this and the previous generation and it will likely be even less important in the next generation. Sure fidelity is nice, however people don't play fidelity, they play games and they want a fun experience. Provide the best of that and the console is a generational winner.