There's already plenty of evidence that both MS/Sony are gonna release in Holiday 2013 their new hardware. Though the leap won't be as huge as it was from, say PS2 --> PS3. Also, pricing: Are they gonna put the budget in better hardware and just add a standard controller, or are they gonna go the Nintendo route: Cheap/underpowered hardware, but a special controller? Because having both will no doubt yield a $500+ pricetag, which nobody is gonna willingly to pay.
I'm pretty sure though the next home console generation won't be as huge as this one anymore. There's gonna be less Triple-A productions overall. Not that this is a bad thing, but the primetime for home consoles are over. Not that this is a bad thing, either.
Edit: Also as Orogun said, Steam like DRM/anti Used game mechanism, while currently only a rumor, ain't exactly help people to decide buying new consoles either.