End of 2009.

I'm not sure when the PS3 will pass the 360 but it will happen, plus the PS3 will be on the market longer then the 360. A sub $200 PS3 will sell lots, when the next xbox comes out at $500

I'll break my thoughts down into the main regions:

Others:

Judging from this week's Others sales, I'm doubting this (the thread title question) will happen at all. PS3's momentum is slightly bigger than 360's in Others, but that's not even accounting for significant 360 price drops. If the PS3 really takes on here with some more game launches, it might give the PS3 enough momentum to make the PS3 win worldwide, but it's not a given.

Japan:

In terms of hardware sales, PS3's advantage here is really small. And as we all know, PS3's advantage in Japan doesn't translate into software sales, which puts it in a situation similar to the PSP (not contributing to developer interest at all). Some software could change the situation, but it doesn't seem like it will change any time soon. That doesn't bode well for PS3's momentum. To put it bluntly, Japanese developers must be losing interest in the PS3.

USA:

We all know the 360 is most likely going to win here, so not much to discuss... Nothing short of a fantastic turnaround would make the PS3 win here, and the 360 hasn't even had any big price cuts yet.

Conclusion:

Things are not easy for the PS3 in terms of its fight with the 360. It needs many system-sellers, which is not going to happen any time soon, and it needs to hope that MS's price drops don't give the 360 a significant boost soon. Otherwise, the gap will just keep getting bigger and bigger due to the 360's dominance in USA which counters PS3's dominance in Europe and PS3's sales in Japan, which seem to result more from the Blu-Ray player than anything else (in the case of Japan).

Good to see that Crazzy, despite two bans, has not given up on his imaginary math.

BTW, you forgot to carry the eleventeen when you calculated your European numbers. You might want to look into that. 

After the shellacking MS and Sony received at the hands of the $250 Wii, do you really think anyone will release a $500 console in the eighth generation? 

@thx1138:

PS3 ALREADY outsold x360 WW in December 2007 thnx to Uncharted, Ratchet, UT3, Warhawk, GT5P, Lair, Warhawk and other great PS3 games. FACT.

SO yes, expect rise in sales since q3-q4.
Overall, FFXIII alone in first week could sell 300k ps3 which = outselling x360 for 1 month by 60k every week.

You just underestimate the power of PLAYSTATION Brand.
everyone wants ps3, all it needs now games for some people and lower price for other. Overall, PS3 is perfect console.

I really want to see how Sony will pull this off. The Wii erased the 360 lead by doing two thingsL having a lower price point and bringing nongamers to the table. The PS3 doesn't have either.

In order to beat the 360, Sony will have to lower its price to compete directly with the 360, or have games that are clearly superior than the 360. If not, the price will keep folks away. And folks talk about the PS2 owners will migrate naturally to the PS3. Why should they? Sony has told them they need to drop the last gen and roll with them. They removed BC because it was expendable, and then expect PS2 owners to sell their systems and just jump to the PS3. I would consider that a slip in the face. If you want me to buy your product, let me KEEP MY GAMES.

Folks are living in the past - remembering what an awesome - yet broken - system the PS2 was. The PS3 isn't the PS2, and you can bet your bottom dollar Sony will come out first next time and try to secure its past street cred.

Sony needs some serious dementia meds ...

 The 360 did very well at $500 during its first year, if they don't go upwards of $500 then atleast the next xbox or playstation will be at $400.

 If you walked into a store in 2006 and paid $500 for a 360, you got screwed.

Predictions are just predictions, it can be as early as august of this year to never.

I wont predict anything on this.