I'm sure MS started developing the next gen console as soon as the 360 was launched several years ago. That's how the industry works, you launch your new product and start working on the next product.
Same with the PS4. I expect there are a team of people somewhere working on what will go into that. Working with Hardware vendors etc. To determin what hardware advances they plan in the next couple of years and securing contracts with them.
Software folks developing the user front end etc. That kinda stuff takes a couple of years to develop.
When I worked for a Game developer we had PS2s for developing / testing software a year before they hit the streets. Firstly in the form of Emulation software running on a dedicated Macs supplied by Sony. Then early pre-production PS2 units several months before they went on sale anywhere.
Christmas 2009 I would imagine at least 1 of the 2 big guys are pushing for.
It'll be more interesting to see what Nintendo do next rather than Sony / MS to me. If Nintendo launched their PS3 / 360 Generation model in 2009 too, that would throw the cat among the pigeons.
I mean, it's probably fun as hell at a get together - kinda like Guitar Hero, but I just don't imagine myself being into all those kiddie games for very long.
I saw the Wii's version of baseball and it was ridiculous. It's a bunch of major leaguers, only portrayed as kids or bobbleheads or something. How any grown man could play a baseball game like that is beyond me, but hey - whatever floats your boat. Just stay away from the trick or treaters. That's all I ask.
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