I think this is a very possible situation. Believe it or not, those of us who look for release date rumors are a minority. The majority will likely remain unaware of such maters until advertisements & promotions begin. And they can count on us to not give up on a system no matter how long before release.
Waiting well over a year (maybe 2) can give Sony & Nintendo a great advantage over following the xBox by just 6 months. The first year of the Xbox360 will have a lot of current gen games. Imagine for the next 12 months, a visible percentage of games released on the Xbox360 and also on Playstation 2. While gamecube releases high profile games like "The Twilight Princess" and a few multi-platform games.
By the time 2007 roles around, parents and kids are thinking of the Xbox360 as not a new generation gaming system but a current system. And a concurrent release of both Sony and Nintendo systems would propagate that view. (And they have both stated that they don't believe they are competing for the same audience, so they wouldn't mind a concurrent release.)
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