Both.  Simply put.

You're also mixing two different things together...budget and time.   Much of what Nintendo touted with reards to Wii's advantage over the HD consoles was budgetary.   Time constraints are not simply the result of a high budget itself but rather a combination of budget, planning, funding appropriation, developer selection, internal marketing, curent projects and planning, etc..

However it is true that actual content development for Wii given relevant budget and resources would be faster but there is so much more to game development than just the content itself.

But you're also correct that the fast/cheaper route is more prelavant on Wii with regards to shovelware, ports, casual games, etc...   

You then have to consider how exactly are cheaper and faster expressed?   Is it merely a 5% difference?  A 50% difference?  Somewhere in the middle?   You seem to be assuming as though both should constantly be in the significant range but there are going to be factors that prevent that from ebing the standard scenario for big budget games.

They ask for PC experience and networking experience typically.

PS3 development is very similar to PC development and actually is often done on the PC. ( PS3 software is compiled with gcc, much closer to PC developement that the PS2 was with all the assembly code a lot of games contained).

Same for 360 development ( even closer to PC).

 Is that an admission?

... you just don't quit

I agree.  We keep hearing support will come.  Now even developers are saying it.  Yet we see nothing.  Yet we keep seeing new games being announced for PS3 and 360.  These are not games that were in development before Wii's runaway success.  These are games starting development now.  I am resigned to virtually all my games being Nintendo made games.  If big games by 3rd parties come then I will be quite pleased but the truth is I am not holding my breath.

Actually, developing for the PS3 is about as far from developing for a PC as you can get ...

The fact that they develop PS3 (Wii, Nintendo DS, PSP, PS2, and XBox 360) games on the PC is because it is far easier for a developer to see how their project is progressing on a PC then it is to create a deploy to your development kit 24 times in a day. Certainly, the handful of developers who are working on the core of the game engine will work almost exclusively on porting your more generic engine for your specific platform, and your project will be tested on a very regular basis (at the end of each iteration) on each of the target platfomrs, but this is by far the minority of work being done.

The truth of the matter is that major developers and publishers are looking for people with experience with all levels of hardware (including the primitive Gameboy and GBA) because of the constant increase in the number of target platforms; publishers who are interested in cell phone (or iPhone) gaming are probably far more interested in someone with experience in (non-game related) embedded development than they're interested in someone with experience on the PS3.

Beyond that there are many developers really dislike PS3 and XBox 360 development because almost all work as a programmer on these projects is very specialized work; they look for scripters, network engineers, shader programmers, tool developers, physics engine developers, or 3d engine developers. On a project for the Nintendo DS (as an example) you're not going to have dozens of programmers so you're far more likely to be involved with a much larger portion of the project and see a lot more variety in the work you do.

Go back and read the previous page.

If you think for one minute that a PS3/X360 game announced this week only began planning within the past couple of months, you're absolutely and completely mistaken.

As for the bolded part...yes they were.   Every single game announced for PS3/X360 right now with any form of decent budget to it was in planning prior to August 2007 when Wii passed X360 worldwide.  If you are claiming otherwise, you're just amking assumptions based on...what exactly?

I doubt a game like Bioshock 2 was actually seriously planned 1 year ago.

The company obviously waited to see what kind of reception the first game would get before deciding to work on a second iteration.

I seriously doubt the development of the new Prince of Persia was started more than 1 year ago either seeing what kind of material they have provided to the public so far (conceptual art ?).

Definitely looking forward to seeing the AAA titles Capcom comes with but I really hope Nintendo hasn't outsourced Zelda to them again.

Which are harder and more expensive to develop for, have a smaller user base, and need to sell more copies in order to turn a profit to fund the next ten games they want to do.

Yeah, I can see the appeal.