Because I am board, here are some thoughts, predictions, and wishes for this year's E3:
Microsoft
Predictions: they'll continue to approach the 360 as the ultimate media experience, will have a major update for their Avatars, will show off perhaps 1-2 PC games (tops), and will make their usual major shakeup announcements.
Hopes: they'll admit that GFW was a complete joke, and immediately cue the "Haw-Haw" from "The Simpson's" Nelson Muntz. They will announce a patch for "Alone in the Dark," and show off some great footage of Halo: ODST which will NOT turn out to be a stealth shooter.
Nintendo
Predictions: will announce one "hard core" game that does little to appease their griping audience. More puppies, and Miyamota makes less of an ass of himself. $100 bills will be handed out to the crowd, just because they can. They'll call Sony and Microsoft "bit****."
Hopes: original or well-adapted games (such as Metroid Prime 3) will get announced, and their more casual games won't suck.
Sony
Predictions: will bail out water by the bucketload and show off some really cool upcoming titles. Whether this abates the fears of their fans remains to be seen.
Hopes: announce a $200 price drop and that the Xbox 360 game pad will now be compatable, as they realize their controllers suck.