Looks like Nintendo will beat Sony to market as well - they'll announce the Revolution console on May 9th:
During its pre-E3 press conference in May, Nintendo disappointed many by revealing little about the Revolution. Other than showing off a mock-up of the console form factor and announcing the console would play NES, SNES, N64, and GameCube games, the game giant revealed little about the next-generation console. In the months since, it has let a few details about the Revolution trickle out, the most significant being pictures of its much-vaunted controller--which has been much-derided for its resemblance to a TV remote control.
That's good news for Nintendo, and more bad news for Sony.