Sony has plenty of ammunition left. They've learned from the past and have been in no rush to reveal games that are still deep in development. That situation is further strengthened by the success of the PS4, allowing them to be conservative with their approach. I doubt they even lay all their cards on the table at E3.
A drag for short-term excitement but smart with the long-term in mind.
Nintendo's position is less advantageous. Zelda is the only big gun that we can count on, though I think there is still a chance of a Mario Galaxy type title, which could be huge. It all depends on when/if they decided to stop developing major titles for the Wii U and cut their losses. Neither Starfox nor Metroid would do much for them in the overall market.
It might be Microsoft's year in terms of big games. Still, though, it's not that big of a deal either way; as Microsoft has said in the past, this is a marathon, not a sprint.