In a recent industry newsletter, Michael Pachter, gaming research analyst for Wedbush Morgan Securities has stated that the next generation of consoles will not arrive before 2013, if at all.
"We do not expect a ‘new' console in 2010. We do not expect the ‘next' generation to begin before 2013, if at all."
More at; http://www.neowin.net/news/gamers/09/05/03/pachter-next-generation-consoles-not-before-2013