I would say that the PS4 will definitly win and the gen will have to last at least 5 years. Thats the soonest i see Microsoft releasing another console. If they do it sooner than that, then they will have lost consumer trust and it will be another failure. They have to focus on making the X1 a sucess instead of rushing to the next round. Same thing with Nintendo and the Wii U.

2021 for the next (if it's not the last...) Ms console, 2022 for the next playstation.

And maybe 2020 for the next nintendo console.

I'm guessing it will come in 2017, 18, or 19. I'm hoping for 2018 though. I don't want another gen to last as long as gen 7 did.

Ps5 comes is announced and with it bring arrogant Sony but since ms failed we have no choice but to agree with sonys demands and we all end up having to work 3 jobs just to buy it

2019.
None of the three will kill their console too early if it's profitable, because developing a new console, particularly a home console, is expensive, and killing the previous one too early may prevent it from recouping the investments. The only one killing its own early was MS with the first XB, because a clumsily accepted one-sided deal with NVidia made it bleed money with no hope of ever being able to price XB competitively and at the same time turning it profitable within acceptable times. Ninty, that was ready to kill DS early and launch 3DS to avoid a possible PSV head start on portables, never did the same on home consoles, GC had low sales, but it was profitable, so it was killed as soon as it reached what was back then considered the minimum reasonable life as maistream model for a console, five years, but not earlier.
So if neither Wii U nor XBOne bleed money, we could see Wii V and XBwo respectively in 2018 and 2019, not sooner.

I'm hoping for 2018.

If MS and Sony go with classic consoles (and not streaming based), I think they need 15TFLOPS GPUs inside to keep the jump relevant, which, though it looks a lot, is actually what we should be having, at least in theory, in 2018 for the same price as 7870/R9 270 right now.

But considering problems that industry is hitting beyond 28nm, I'm kinda skeptical about it.

http://electroiq.com/blog/2014/03/moores-law-has-stopped-at-28nm/
http://www.pcper.com/reviews/Editorial/Next-Gen-Graphics-and-Process-Migration-20-nm-and-Beyond

PC

And the we all go and play Sex games on Oculus

Sex sells. So we would see advertisements everywhere? micro transactions? 5$ for no underwear? Noooooo!

I saw this coming...