This is what I've been saying all along. When the Wii passes PS2, it will have won the last gen war. You can't say that it is competing with PS3/360 because its not even close technology wise. A generation can be defined by the type of technology used, not when it was released.
This is the first time this has happend. Every generation the hardware has been very similar until now. All that we can conclude from this is that the Wii is not in direct competition with the PS3 and 360. But of course, Nintendo fans only see how successful the Wii is and don't care about the technicalities. Yes, Nintendo is selling great, but it is still a generation behind. As long as developers keep making the core games for PS3/360 I don't care so much. I'm still upset about MH3 moving to Wii. Would have been 100x better on PS3, but money wins over quality I guess.