I'll simply break it into three parts here... Microsoft, Nintendo, and Sony. I'll tell you right now before you read on about each company... I hate Sony and am a Nintendo fan at heart. As for Microsoft, I like their style and how they appeal to the masses and present themselves as the alpha male.
Microsoft
They've already proved they can do online with possibly the best online service known to many as Xbox Live. Millions and millions of users and that number only goes higher with time... and since the 360 has already been out for over 6 months now, time is on their side. With talks about wireless accessories being available during the holiday season, getting the next GTA game on the 360 the day it comes out (including episodic content that's going to be available on Live), a trailer already for the final (and what appears to be the biggest and best) Halo game, not to mention other hot titles like Gears of War, Hitman: Bloody Money, Lost Planet, Huxley, Dead Rising, Splinter Cell Double Agent, Madden '07, Smackdown vs. Raw 2007, and a shitload of other games that appeared at E3.
It's safe to say Microsoft is pretty well set with its plans for the future of the "next-gen" wars.
One thing I am not looking forward to however are the "format" wars. Fucking HD-DVD and fuck Blu-Ray. I take my DVD any day of the week. This just looks like a money scheme developed by the different corporations to make more money off their shitty-ass movies. Whether they're in HD or not, the movie won't get any better. How about you make better movies instead of feeling the need to spend more money on the effects than the actors. Oh yeah, fuck Uwe Boll too. He must die. Didn't mean to go on a rant there, but I felt it was necessary to show my feeling towards HD.
Nintendo
These guys practically stole the show with their debut of the Wee... I mean Oui... I mean Wiiiiiiiiiiiiiiiiiiiiiiiii. Anyways, the Wii had everyone wanting a piece of it at E3. The lines were said to be up to 6 hours long at times to get a chance to play a Wii for a few minutes (that's even worse than a roller-coaster), but I'm sure it was worth it to those who had the patience to stand in that line.
What had everyone going crazy for the Wii was no doubt the Wiimote-nunchuck. It really has you interact with the games like nothing else before. I definitely enjoy Nintendo's strategy on being innovative, just as they have in years past. Sword-fighting, playing sports, shooting arrows, driving cars, and the list goes on for what is and/or can be possible with the Wii controller.
The virtual console also made a lot of heads turn to the Wii knowing that they'd be able to play GoldenEye or Super Mario 64 or Bubble Bobble on their brand-new Nintendo console. They've announced all games from the NES, SNES, N64, Genesis, and TurboGfx will all be available to play (at a fee, most likely) on the Wii. Not to mention compatibility with GameCube games AND being able to use GameCube controllers with the Wii. Aside from having their little virtual console, some games coming out for the Wii sure look like a big hit like a new Zelda game, Mario game, Super Smash Bros. game (which looks really awesome with the addition of Solid Snake), and Red Steel.
The other thing that makes the masses happy about the Wii? The price tag... or at least the possible price tag. Many have rumored ~$200, but maybe lower? We can only wait and see what Nintendo comes up with. Since their console isn't so much as hardware driven as the other two and is relying more on innovativeness and "fun", it obviously will be much more affordable. The question is will the "fun" of the console hold out over their competitors or will they be back at phase one like they partially were with the financial failure of the GameCube and horrible third-party support.
Sony
Let me just say now, Sony has taken it's last breath in the video game industry. When the 360 has more of a fanbase than the PS3 in Japan now, you know something has gone horribly wrong.
Just to start off, the price of a PS3 will be $499 for a 20 GB version and $599 for a 60 GB version. Not to mention the cheaper version is lacking HDMI, wireless, and memory card ports. This is where they really went wrong. The price is almost laughable when compared to the other consoles. Peter Moore even said "Why would you buy a PS3 when you can buy both a 360 and a Wii?" It's obvious that Nintendo and Microsoft are teaming up to take down the current leader in consoles (thanks to the PS2).
The revised controller of theirs was a fucking joke. First it was a banana/boomerang. Now, it's the DualShock, to be blunt. This DualShock, however, has motion-sensing like the Wii controller (blatantly stolen from Nintendo), a guide button in the middle copying that of the 360, and no rumble feature? When I play games, I prefer to feel them. It's almost a requirement anymore. Not to mention the DualShock design and analog sticks are fucking shit when you compare it to any Xbox controller (yes, even the bigger one). PS3 controller = big ass skanky pile of shit.
Third... Blu-Ray. Like I said with Microsoft, fuck new formats.
Fourth, Sony actually had the balls to claim they were the online leaders and their online service would "revolutionize" our lives. I don't even know what to say about that.
The games were crap and not to mention the controversy behind running a "PS3 demo" of Assassin's Creed off of an Xbox 360. That has got to be the lowest hit below the belt I've seen. My god that's just despicable.
I guess we'll find out the real winner come this holiday season, but man if it's not their last, it'll be a very rough and tumble ride for Sony.
As for now, I'm a little sick of writing about video games and I'd rather be off playing them right now. So that's exactly what I'll be doing.
Peace out fanboys