Here is a slightly different perspective imkain. I do not consider myself a fanboy thought I lean more towards the Sony line of products. I own the original PS one that I purchased back in 1995 and I also have the latest PS one (with LCD screen) as well as the latest model series 50001(non-slimline) PS2. I intend to purchase an Xbox sometime in the future but probably would not consider 360.
Part of the reason why the PS2 is the top console of its time is it's domination of not just the US market, but its appeal and acceptance in the european and primarily the Asian markets as well. You can't be a great company if you're only good in America. Let's be real, the PS3 will have problems, but there are enough people in Japan and China alone who will kill for the next Final Fantasy to drop on the PS3, to propel PS3 sales past the 360 even with a year's headstart.
Face it, if Microsoft wants greatness, it needs to conquer Japan and frankly, it's not looking very good right now; They've already had to replace its head guy in Japan because of slow sales.