Though now slightly outperforming the Xbox 360 in most markets, the PS3 lags a long way behind in total sales?  This year will be of critical importance if the PS3 is ever to catch and gain a meaningful lead over the Xbox 360 this generation.  What games/peripherals do you think they can and will show at E3.

If new games, what kind of new games.

If old games, do you think it will be playable demo's or just trailers?

god of war 3 trailer and announce a demo.
and possibly some other stuff too but god of war will be the highlight

I'm not so sure. I don't think God of War will make it out this year so I'm guessing that the number one shown-off title will be Resistance.

Then again, Resistance is unlikely to move console's, whereas GoW is, so they might give it some serious airtime.

Team Ico game with surprise release date of Fall 2008. It sounds crazy because we've heard next to nothing about a Team Ico game, but I think Sony might be keeping a couple of Fall '08 games under wraps because MGS4 and GTA4 are releasing right now. Those two games are providing enough hype for the system for the time being. However, by the time E3 rolls around, both games will be old news and Sony will need something new to get people excited. Therefore Team Ico will come to the rescue.

E3 has become a joke.

I expect little next to nothing, all the big toys will be at TGS.

I don't think E3 is a joke at all.  Sony fanboys were delirious last year when Sony "won" E3.

What I will admit is that last year Microsoft had a pretty pathetic E3. 

TRICO!

Who cares about anything else.

Edit: Okay, the inevitable God of War III trailer will be badass as well. 

They tried to kill E3 but it's only growing stronger.  This year it's moving back to the LA Convention Center, and since it's still Press only, we get the big news like we did a few years ago, without as much strain on the companies since there aren't tons of random people wandering around playing the demos.