Console and software sales for the month of February were recently announced, and both the PS3 and Wii did quite well.
In January, the average number of games owned by a PlayStation 3 owner was 2.7, while the average Wii owner had 2.2 games in his (or her) library. Only one month later, these numbers have jumped quite drastically to 3.4 and 3.6 respectively.
A representative from NPD commented: "While some detractors may consider the next generation cycle off to a poor start, we think that improving tie ratios indicate strong demand for the relatively light software lineup on the next gen consoles, and we believe that once a greater variety of compelling software is released later this year, demand for the new hardware will increase."
For the now current generation of consoles, it looks like there is no place to go but up.