Why 2012 would be a mistake: both the PS3 and 360 are completely workable platforms with pretty much complete HD media capabilities. It's the videogaming capabilities of theirs that are now underwhelming. However, there is plenty of software to be made, and new experiences to be had on both systems. To replace them, even in 2012 would seem premature. Keep making software and people will continue to play games, play online, and buy DLC as well as media services, with no need to build a new box. Things like Kinect and Move have helped too, but I think it's the overall combination of "good enough hardware", great online experiences, games, and pivotal media implementation have helped push consoles into the living room, making them the centerpiece of entertainment, only behind the HDTV in importance.
Yes, competition could one up the competitor, but a well to do system like either the PS3 or 360 can still go for a while even with a new generation system from the competitor around. Leaving computational power for the sake of games out it, I just don't see the next generation really offering anything that couldn't be done on today's systems. The only thing I see making the next generation necessary is the arguably archaic hardware in regards to gaming in the current systems. For everything else, they are fine at what they do. Devotees of either the PS3 or 360 probably wouldn't be as jealous as we would think of a new system from their less preferred brand, especially if games continue to stick to being multiplatform. Might as well make 2013 the earliest date of release. Until then, revise the systems to be cheaper to produce, create new system life extending accessories that are actually desirable, make the games and software better.
Yes, competition could one up the competitor, but a well to do system like either the PS3 or 360 can still go for a while even with a new generation system from the competitor around. Leaving computational power for the sake of games out it, I just don't see the next generation really offering anything that couldn't be done on today's systems. The only thing I see making the next generation necessary is the arguably archaic hardware in regards to gaming in the current systems. For everything else, they are fine at what they do. Devotees of either the PS3 or 360 probably wouldn't be as jealous as we would think of a new system from their less preferred brand, especially if games continue to stick to being multiplatform. Might as well make 2013 the earliest date of release. Until then, revise the systems to be cheaper to produce, create new system life extending accessories that are actually desirable, make the games and software better.