Sony has said on numerous occasions that it plans to keep the PlayStation 3 going for 10 years and to judge the victor of the console war before that time period is up would be foolish. So far, the PlayStation 3 has just over two years under its belt. If Sony gets its wish, the console will still be in production until at least 2016 -- a whopping 7 years from now. And quite a bit can happen in that time.
But that doesn't answer the simple question of whether or not longevity in gaming really matters.