E3: Game Console Wars and Booth Babes provides a very good overview and comparison of the next-generation gaming consoles. As for the ultimate winner, it's way to early to know. But the article does take Sony to task for showing too much "smoke and mirrors", whereas Microsoft is showing real development.
You have to read all the way to the end to see the "Booth Babes", but they are in there! Nothing like any conference I've ever been sent to!