Originally, both consoles were supposed to have worldwide launches at the 2006 World Cup. Now, it appears the PS3 will come out towards the end of next year in Japan. Concerning the release of "Xbox2", some Microsoft Head said that whenever the PS3 launches, we will be there. Not too sure what he meant by that
In my opinion, both consoles will suck. Its still the tired old game franchises that will domainate the 'next' generation market.