I don't know about Microsoft but I'm pretty sure Sony will push the European launch of the PS4 back to Spring 2014 because they ALWAYS do that. European launches of Sony consoles HAVE to get pushed back, it's like a law or something.
Now if Microsoft does the same they'll basically hand over the next generation to Nintendo. The Wii U will have a not supply constrained christmas with decent game support (Mario Kart is a given) in 2013 and Nintendo certainly won't be afraid to drop the price of the system then if they need to. Microsoft / Sony would be extremely dumb to launch their consoles any later than christmas 2013.








