For the HD supporters here (that is, the few that are arguing that they shall retake the market), I think the correct response is:
Yes, what you are saying is technically possible. The PS3 and 360 both have great games and features going for them. I don't argue any of the bullet points you've put up, as I personally use my PS3 as a Blu Ray player and thoroughly enjoy both PSN and XBL.
However, thus far, virtually every scrap of empirical and historical data does not support the notion that these systems will suddenly launch to victory. Every month of every year in every major territory (JP, US, EU) the Wii outsells both the PS3 and 360 by substantial margins, and those margins have increased since last year. Sales of the Wii are not slowing down. The Wii is also selling a great deal more software, too, on a consistent monthly basis now, in all territories.
In addition, historical data does not show any system sparking mid-generation and suddenly launching to victory; in fact, we've never seen significant movement in the basic layout of a generation beyond the first 6-12 months, let alone 2-3 years down the line. The only times we've ever seen leadership shifts at all are generations like this one or the SNES/Genesis generation, where the eventual leader shipped second and had to play catch up simply by default.
In short: it's possible the PS3 will launch to victory, in the theoretical sense. You are correct, it's possible. But at this point I'd put the odds of such an occurance at 5% or less; again, there is no empirical or historical data to support such a claim.