Um, N64 was not a better console specs wise then the PS1.

Also no the NES was not supported for 20 years. And no the SNES was not supported for 14. 

1) Yes it was..I'd post the links, but I'm sure someone else will.

2) Uhm..yes it was..and yes it was.

In the wake of ever decreasing sales and the lack of new software titles, Nintendo of America officially discontinued the NES by 1995. Despite this, Nintendo of Japan kept producing new Nintendo Famicom units up until September 2003,[16] when it discontinued the line.

Nintendo of America ceased production of the SNES in 1999,[35] about two years after releasing Kirby's Dream Land 3 (its last first-party game for the system) on November 27, 1997. In Japan, Nintendo continued production of the Super Famicom until September 2003,

-Wiki

They produced the systems for a long time but didn't really release any software for them.

In the wake of ever decreasing sales and the lack of new software titles, Nintendo of America officially discontinued the NES by 1995. Despite this, Nintendo of Japan kept producing new Nintendo Famicom units up until September 2003,^[16] when it discontinued the line.

Nintendo of Japan continued to repair Famicom consoles until October 31, 2007, attributing the decision to discontinue support to an increasing shortage of the necessary parts.

http://en.wikipedia.org/wiki/Nintendo_Entertainment_System

Nintendo of America ceased production of the SNES in 1999,^[35] about two years after releasing Kirby's Dream Land 3 (its last first-party game for the system) on November 27, 1997. In Japan, Nintendo continued production of the Super Famicom until September 2003,^[36] and new games were produced until the year 2000

In 2007, Nintendo announced that it would no longer repair Famicom or Super Famicom systems due to an increasing shortage of the necessary parts.

http://en.wikipedia.org/wiki/Snes

 And yes the N64 was better then PS1 spec wise

The N64 was far superior to the PS1... the N64 was 64bit, as it's name implies.... the PS1 was 32 bit.


The NES was supported for 20 years in Japan.... but it was only about 11-12 years in America and Europe (still more than the PS1 lifespan)

The SNES lasted 14 years in Japan, but only 9-10 years in America/Europe (partly because back then console were released years later outside Japan)

Thanks Vaio and SethNintendo. Edit: And T-Dub.

@Sharky: It's rather irrelevant what the hardware manufacturer plans to do, when it's the market that decides how long a certain product lives in the market. As others pointed out, NES was supported 20 years by Nintendo, but it had been dead in the market years before Nintendo dropped support. NES had its last game in 1995, 8 years before the hardware support ended.
Now, the ten year plan is just marketing talk, since ten year plan, as people view it, as supported by the market is out of Sonys control.

And as already stated, N64 was more powerful than PSX. N64 had its certain downsides in comparision to PSX, such as smaller capasity media (which was partially offset by high compression rate N64 supported) and certain hardware bottleneck, that was hard to go around (resulted in another 1st party microcode that dealt with the problem, but was wery expensive). The downsides were possible to go around, as a proof, RE2 was ported to N64 to a single cartridge and higher polygon performance (than PSX) of N64, but they resulted in very high cost of developement.
And the biggest upside of N64 was it pushing out effects, by standard, that weren't even possible on PSX and all this without the need of cutting from its other performance.

The situation is a little similar that it is with current gen. PS3 is the most powerful of the three, but in order to tap its power, you're forced into expensive developement. From technical standpoint, PS3 is somewhat a masterpiece, just like N64 was, but from a practical standpoint, it's far from it (like N64 was).

It doesnt matter how long console is going to be on market.It Matters how long can console keep selling good until fell below 90k. NES was out longer than PS1 but PS1 still outsold it. PS2 sold that good because it never stopped selling like crack till holiday season 2007.PS2 always had good software to give it a boost.

Wii has sold 50 million for 3 years ( 48 million but lets make it simple )
Lets say will will also sell 50 million in next 3 years. It would be 100 million. In 2012 wii is starting to slow down and sells only 25 million in 3 years. It would be 125 million. In next 3 years Nintendo stops making good software for wii and wii sells only 10 million. It would be 135 million wiis sold by end of its life cycle. So there you go.Nintendo suports wii for 12 years and wii sold 135 million and becomes first Nintendo console to sell above 100 million but it doesent outsell PS2.


But this is just my predicting. It can go far worse or far better for wii

Truely impressive. The waggle sticks for other platforms are surely on the way. Only time will tell if they can chop away at the Wii's total dominance.

Edit: Whats truely scary is that Nintendo could easily ramp up even more Wii demand and sales with a price cut.

 That´s true.