In the short term Nintendo won the generation by a profit margin that we will probable never see again in the gaming industry.
But looking at the meduim-long term, Microsoft seem to me at the time to have a massive advantage going forward into the next generation. As they sold the best for the last few years in the biggest market (USA) and the best selling third party software now tends to be more from Western rather Asian developed. But with it successor being a weaker/more expensive than it nearest competitor in the PlayStation, the bad press over DRM, forcing people to have kinnect, no release time window advantage and with less support from more niche titles e.g. Indie, JPRG. They have screwed up big time.
Sony lost a lot ground over the last generation, however they are slowly are rebuilding towards their original market dominance but still a long way to go match the feats of their 1st/2nd Home consoles.
Summing up I see the Wii was a very profitable but short term fad. Microsoft gained a lot ground on their competitors but seemingly to be throwing that away by some bad recent decisions on their next console. Sony are just trying to regain the ground they lost from previous generations. To be honest I don't think their is real winner to previous generation overall.









