I think the biggest fear the console makers have is that the next generation might be a dud, the game makers are already breaking their back on the cost of developing for this generations consoles, and with the increased graphical fidelity expected by the next generation the game makers will be sceptical about risking their finances to make games.

i think it has a chance so long as one of the big 3 doesnt ruin it. but i honestly think we will see at least one new console by 2012

Well, I personally hope this generation lasts another 2 or 3 years.

There's been a lot of talk about the next nintendo coming out in 2010 recently. But I think that's just because sales were laging, but now that nintendo is coming back with a vengence and with a lot of food software coming out next year, it would be stupid for nintendo to come out with a new system this early. People say that since nintendo is so far back in the power of the system that they have to catch up now, but I think nintendo owners think that it's fine just the way it is and don't need hd yet.

As for sony, it could be one of 2 ways. It could be that they want this gen to last as long as possible so that they can eventually make a profit on the ps3, hell the ps2 is still selling(!!!). Or they might just want to forget this gen ever happened and just start all over with their next system. Considering how expensive this gen is still, the next won't be any cheaper, so I think sony will be last to bring out a system next gen.

Xbox360 has been doing very well this gen compared to last. They were in the red for a while, but are now making profit. And even though ps3 is selling higher for the moment, they are still selling quite well, and software is selling generally higher than ps3 and I don't expect that to change.

Considering all this, I think microsoft and nintendo will both come out with a system late 2011,xbox being first (It will have been 6 years since the last xbox), and the next sony will come out in 2012.

So, to answer your question I think this generation will be longer for xbox and sony, but normal for nintendo.

Yep...We won't see another console until 2012...maybe 2011, if Nintendo gets into gear on Wii HD.