My predictions are:

PS3 will outsell 360 by 3-5 million units.

PSP2 will b announced at E3.

PSWands will get great advertising campaign will be very successful and cause PS3 sales to top 1 million WW for 2 weeks.

SCE will Post a profit this year.

360 will get a price cut.

Wii Fit: Plusser will be released.

i think it is pretty obvious the 360 will see a price cut. they have to attempt to stop the bleeding somehow.

as far as the sales gap goes, it's really hard to predict for the year for two main reasons.

1. the numbers right now are so far over the past that extrapolating is really unsound.
2. there are so many big exclusives slated for the first half of the year. several of which are destined to be system sellers. the 360 really doesn't have anything like that. their best two titles are mass effect 2 and halo reach, but neither of these will see drastic spikes in sales. i think it is very conservative to think that the lead will be around 3M by year's end. simply assuming a mean lead of 80k per week has the ps3 chipping another 4.1 M off the lead. i don't think that is entirely unreasonable. but i tend to try to keep my predictions more grounded that that.

Post GT5 Europe will see PS3 out sale 360 by 2-1 or more.

360 will see a price cut in the summer of $50 on Elite Consoles

ps3 will outsell 360 ww by at least 3 million leaving 2011 for the consoles to have a final showdown

nobody outside of the internet forums is interested in Heavy Rain or Alan Wake and neither will do anything exciting but the online hype should prevent failure

Wand and natal will both launch with some sucess but neither will be a game changer, natal will be the biggest seller but console boosts will be like for a normal large exclusive game and soon die down

GT5 will finally be released in the summer and will be a critical and sales success its release will be marked online with many Forza v GT fanboy wars

God of war 3 will be the surprise monster hit of the year and will sell over 5 million, it will also be the last in the series

2010 will be the worst year for the Wii overall but holiday sales will probably be bigger than 2009

Halo Reach will be bigger than ODST and on a par with Halo 3 it will also be subject to intense amounts of flaming

I might actually know what Starcraft 2 is and why it is supposed to be amazing

a new super mario brothers game will be released on DS after being announced at E3 it will be the biggest selling game of the year (seriosuly this sold millions the first time and there hasnt been one for over 3 years what are you playing at nintendo!)

GTA: Miami will be announced for an April 2011 release it will go back to the series roots and the trailer will show a more fun game style

PS3 will sell around 14million
360 will do around 11million

Gran Turismo 5 will do 2.5mil first week
Gran Turismo 5 will do 1mil 2nd week
Halo Reach will do 4mil first week
God of War 3 will do 700k -1mil first week

Natal will FAIL
PSwand will FAIL

PSP - 4000 announced, no sign of a PSP2

LOVEFILM announced for Europe PSN

PSN will cost, but stil play online for Free

Xbox 360 will have a big price drop a week before GT5 comes out
PS3 will have a price cut at christmas

PS3 3D will be activated by around 500,000 people, will cause around 50,000 people who get 3D to buy a PS3

rest of the world will look at 3D and laugh

Wii will sell around 21million systems
Wii will have strongest christmas yet

Last Year of the DS1 ad nintendos main handheld

PS3 christmas line up

Resistance 3

Motorstorm 3

the Last Guardian 

Jaffe game (will miss christmas target)

MM's next game announced, not for this year

Killzone 3 teaser at E3

Rumors of God of War 4 start

ALSO
Final Fantasy Versus 13, Japan Christmas Launch