This is only half true why yes the first thought of late 2010 or 2011 will not happen. This will though Fall launch 2012 Xbox 720. This will mean the 360 would have a 7 year lifespan and that is a good run. And this also means this will give the 360 from current another 3 1/2 years this is perfect and MS will launch the 720 in fall 2012.
So this is only about half true but it does have some merit.
http://news.cnet.com/8301-13506_3-10293805-17.html
As for PS4 they can only launch as early as 2014 they need to make some profit after the HUGE losses on PS3. So in tern this means Sony will loose again next gen also.
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