Over at Gamespot this evening is one of the best analyses I've read to date regarding Nintendo and the difficult road ahead facing off against Sony and Microsoft.
I am actually very excited about what the future has in store: with so much at stake and with so much cash backing each of the big-three console makers, the next round promises to be a no-holds-barred fight to the finish. Among the arsenals will be some truly spectacular innovative products as well as some of the best game software ever released.
The obvious winner will be the gamer. =)
Update