Have you ever paid attention to the patterns consoles follow? I notice them from a Nintendo perspective. Here's how I see it:

Nintendo: Every other console, they make a huge leap to some new approach. NES/SNES (good, old-fashioned 2D gaming), SNES/N64 (good, old-fashioned 3D gaming), Wii/??? (gaming with motion sensing).

Sony: Small evolutions every time out of the gate, with a lot of attention paid to what the other guy is doing.

Microsoft: Good, old-fashioned gaming with an emphasis on the online side of things, more like you might expect from a PC.

Now, what does all of this lead me to believe? I think that, if it succeeds, Nintendo will keep following the pattern that has kept it in business longer than any of "the big three." I think we'll see two systems with heavy focus on the motion-sensitive stuff (the next one with a big graphical boost, of course). Then?

I think Nintendo will do the whole virtual reality thing. We'll see in 10 years, right?

As for Sony, I think it'll keep making micro-improvements that focus heavily on graphical upgrades and media center applications, until it stops kidding itself and realizes that what it's really done is evolve the Playstation line into a surprisingly successful PC.

Microsoft, meanwhile, will likely keep doing what it's doing, but will in essence have its own line of PCs, as well. So basically, console gaming as we know it will be all but dead in 10 years. :-(