There will be three main consoles in the next generation (obviously); Xbox 2, PS3, Nintendo Revolution.
Many people are posting discussions speculating on what they MIGHT be like. The fact of the matter is, we will not know how they compare until at least E3 2005. All we can do is look at each console and present the facts that each respective company has officially released.
Microsoft: Xbox 2
The Xbox 2's main advantage over the other consoles is its release. Most likely in late 2005. We have already seen many games that will make their debut on the Xbox successor and they look incredible. But in what most gamers want to know is what will be inside the box. Originally, Microsoft only intended for its new console to be equipped with a 3.5GHz processor. However, now that Sony has announced their Cell (which will power the PS3) will be equipped with 4+ GHz, Microsoft may try and give the Xbox 2 a little extra. But whether they do or not is really unimportant. They will be relishing that they will have the jump, like Sony did with the PS2 over Xbox and Game Cube. Finally, the Xbox 2 will take full advantage of Xbox Live. Most gamers know that Xbox Live was not designed for the Xbox, but for the Xbox 2. They launched it with the Xbox to get the jump on Sony and develop a support base. It has been a huge success and will help the Xbox 2. Xbox 2 will also take advantage of XNA which will make games easier to design and produce with developers.
Sony: Playstation 3
Its obvious advantage is a sales point of view. The PS3 will almost undoubtedly outsell both the Xbox 2 and Revolution. Not because it may be a better console, but because it has a very strong INTERNATIONAL support base. Also, it has been revealed that it may support over 4+GHz under its hood. That is an achievement in itself. Sony will launch this console in early 2006 all before Christmas 2006 (possible 12 months after Xbox). The difference will be it will not be destroyed because of the Xbox 2 getting a jump, unless Microsoft can market another product to steal the limelight at 2006's E3 and also at release. There has been speculation that this could be Halo 3. Either way the PS3 will be very successful, it’s just a question of how successful in this generation in comparison to the PS2. It will also need to work on its online capabilities to match Xbox Live which has been a huge success for Microsoft.
Nintendo: Revolution
Finally, the Dark Horse. This is the console that we know little about. However, all you have to do is look at its name, "Revolution". That makes something very clear, it will be aimed at being revolutionary. Meaning, Nintendo may be taking its console in a very different direction to allow Microsoft and Sony battle at each other. Many sources believe that it will make full function of the DS and will introduce an online capability. In power terms, the Game Cube is more powerful then the PS2, and we know that Nintendo will be trying to push its new console. The only way we can assume how powerful it will be is by stating that the Revolution will be a third normal console which will most likely run at around 3.5 GHz. However, if Nintendo takes it in a different direction (wireless for example) then we could be something very different.
Conclusion:
The next generation will be closer, every gamer knows that, as does the respective companies. However, PS3 will sell more then the others (unless Sony does something unthinkable). But, if we put aside sales and focus on the best product, I don't think it will be easy to say which one is the "best". Each console will target different areas. All we have to do now is wait until E3 where a lot of information will be released and ask ourselves as gamers, What do we want in a console? Online, Wireless, Graphics, Processor, Controllers or a console that connects to other devices, like the DS (Nintendo). All we have to do now is wait...