Both companies have been working on similar ideas to Nintendo's.
Plus, with E3 coming soon, it could be one of the announced features.

If the motion control wands are implemented this generation, I expect:

1. No difference in hardware sales. It's not a standard controller. It will not affect the big picture.

2. Small selection of software to utilize it. This is a peripheral. Think Balance Board, PSEye, Live Vision Camera, etc. How many games actually utilize these peripherals? Not too many. Expect similar results with any wands the two big dogs cook up. I know the Balance Board took off because of Wii Fit, but I don't think Sony or Microsoft are daring or creative enough to duplicate that kind of success with a peripheral. They just don't have the scope and vision that Nintendo does.