No it won't. The DS I think will eventually beat the PS2, and it can do it because multiple will be bought for single households. That won't be the case with the Wii. The arguement that the Wii can beat the PS2 comes from Nintendo's success in bringing new gamers to the fray, but a lot of these new gamers are just playing other people's Wiis and not buying them for theirselves. Also competition will be far greater for the Wii than the PS2 ever got with the X-Box and GC. I think the Wii will sell over 70 million, making it the best selling non handheld Nintendo system ever, and possibly could top at 90-100 million.

Honestly, I am still not convinced the full sales potential of the Wii has been reached.  I think after this X-mas we could see a serious surge in Wii sales as aunts, uncles, cousins, grandpas, etc... all get a chance to see the Wii in action.  I don't think we are anywhere near the point where we can say for certain one way or the other whether the Wii will or won't ultimately be able to pass the PS2.

But there are a few things to keep in mind.  For instance the PS2 has not been out for 7 years, it has been out for 6 years 10 months.  Also people forget that the Nintendo is ramping up production in a big way, and once they get all those units flowing and they are able to meet demand you can bet they will start up with the ad campaigns.  It is also worth mentioning that the PS2 sold the vast majority of its units after its first major price drops.  And some have already mentioned the Wii is selling this well right now without its major games out.  This X-mas could see a huge influx of people who are now willing to spend the cash on a Wii becauase the games they were waiting for are now here.

Basically there are a lot of things that have a history of launching a console on to better sales numbers and until we know what their impact on Wii sales will be I think its really hard to say one way or the other.

But I do know that anyone ruling it out is deluding themselves just as much as anyone assuring it. 

No, I think the Wii is like a hurricane; fierce while it lasts, but not very long lasting. I considered buying a Wii myself earlier this year (and they're not hard to come by in Norway), but decided against it after I tried a few of the games.
I'd say that the Wii will hit the 60-70 million mark before Wii 2 hits the market, which is no mean feat considering how poorly Ninty has done over the last decade or so!

 Hmm, not sure about that. I believe that Wii Fit is more of a thing for people who already own a Wii to buy, not necessarily something that will make people run to buy a Wii.

I say it wont beat the PS2, as Nintendo already stated their next console will be HD.

HD is still in its infancy and knowing Nintendo, right when it starts to boom, their new HD Wii2 console will hit the market and suck up all the sales.

Also, the PS2 is known for multiple consoles in each house, mine has 2 adn Ive known friends to go through 4 or 5.

I dont know Im having mixed opinions right now. I have friends telling me GC owners are getting the wii as well as little kids etc.. But hard to tell right now.

 The Wii is no different.  My apartment has 3.

 That's because Sony hasn't abandoned the PS2 completely like MS and Nintendo generally do for systems after they release a new system.   There have been some great games released on the PS2 since the PS3 launch, and they will continue for a short time as developers continue migrating away from last generation systems.  What has Nintendo done for the gamecube since the Wii launched?  I can't recall a single thing honestly. (Even though I admit I don't follow nintendo that closely anymore)

Nintendo continued to support the NESeven after the SNES was released. I wouldn't be surprised if the Wii continues to sell even with Nintendo next console.

Succesful consoles have long lifespans and get a lot of support. Obviously the PS1 and PS2 had long lifespans, but that's by no means a special traits of Sony's. The Wii is the most succesful console of this generation and has a good shot for the all-time hardware crown, so it's pretty much a given that it'll have the longest life of the current consoles.