I didn't read any posts before this because I didn't want to taint my own perspective (so forgive me if I repeat others):

Nintendo: It WILL be called some form of Wii. Marketing will demand it (this is coming from a marketing person, losing brand is death) and they will incorporate the word "Wii" into it somewhere. I have no idea what the name may be, but it will feature PS3-style graphics (plus a little) and will be launched somewhere around 2011-2012. Nintendo is in the power to short-shift this cycle and I think they'll do it to incorporate HD. Beat MS to the punch, if you will. Nintendo has changed the game. It's not all about loss-leaders and ubergraphics, it's about gameplay at a reasonable price. Which brings up my next point...

Sony: This generation, they're fucked. It's that simple. They have no recourse but to attempt to regain the gamers they nurtured over the past decade. The biggest problem they face is MS (side note, anyone who uses the term M$ is a jerkoff) and they have to find a way to get back their leadership. Hiring an American is a nice first step; Kuturagi was too full of himself. He went over the top and killed the PS name every time he had the chance because he stopped realizing what made it great: the games and the attitude. Sony needs to get that back and I think that will happen with the PS4 (and there will be one, I guarantee it).

Microsoft: Gain ground. They've done a hell of a job of it so far but they need to convince gamers that there is more to the XBOX than FPS. Picking up Lionhead, Rare, Mistwalker, etc. has helped this enormously but they need to market it better. They're trying to outdo the Playstation name but they don't bother to actually advertise the fact that they have the kick-ass games that made Playstation great in the first place. Move beyond the FPS crowd (even though I'm one of them) and XBOX will bring the console to greatness.

In short, next generation we will see no one release a console that loses large amounts of money initially. Nintendo proved that doesn't need to happen. On the other hand, that doesn't mean we won't see great graphics. We'll see a step back and then a newly established benchmark for what console graphics will represent. Will Nintendo challenge graphics next gen? No. Will MS and Sony? Yes, but not to the extreme they are attempting now. Everything is going to take a step back and think about the gamers instead of the console power... And that's not a bad thing.

Lemme predict now that many people will say there will be no PS4 because Sony will leave the business after losing one generation...

Other than that all predictions are too early.

untill now no one

Sony will not quit unless they are outsold like 6:1 by both their competitors (completely unlike the xbox which was only outsold 6:1 by one competitor). They will change their strategy and launch at a much lower price point, with the power being similar to the 720. They will not have to have a much higher price cause they will both have blu-ray

Rol - I have said since the Wii specs were released (and actually higher than what they truely are), that Nintendo designed a system that had the ability to be replaced quickly if sales ever started tapering off. And if you've ever seen my predictions and analysis of the market, that in 2008 and 2009, Wii sales in the US and Europe would start to fade, and cause the Wii sales to shrink significantly.

Since I believe that, I believe the next logical step: Nintendo will introduce the next Wii-like system quicker, as they've made tons of money on the Wii, and don't want sales to plummet too far in the US/Europe, so they release a Wii2 or whatever to re-ignite sales. If the Wii does sell 80m+, I would agree that the Wii would end up with a 2012 launch or so, but I don't.

Input device wise, I've already said in other threads that MS and Sony will addopt more interactive functions as the norm, so to me it's a non-issue. I am more of giving specs because of the price(s) of the systems being critical: MS goes to a sub-$300 price. Sony launches PS4 at $249, ect.

I believe the PS4 comes late because again, Sony won't make money on this gen until real late (2010 and later), and needs to recoup some cash, so they keep the PS3 on the market longer. They've spent far more in deving the PS3 than Nintendo did with the Wii, or MS did with the 360, therefore it NEEDS to be on the market longer to justify the pricetag of R&D.

nice prediction