In the major consoles, Sony won overall by a longshot. It had the longest run and it's still going. (there are still a few PS1 games coming that I want.) Nintendo Won if you were a kid that loved Pokemon (and there were alot of those)
As for the upcoming...
Xbox has raw power, and unlimited money, but will be shaky in the Japanese market who buy a heck of alot of video games. It also won't have all that many exclusive games that people care about.
Sony has the installed base, and enough backing, but a subpar processor compared to the other two. Too many add-ons could hurt it's credibilty as well. On the other hand, It has great in-house support, with Must have exclusive games (GT3, TMB etc...) It also has a 1 year jump on the competition, with some of it's biggest games coming out in the other 2 consoles infancy. (MGS, FFX etc) Oh, and the best controller thus far.
Nintendo is the one to watch though. It has a powerful processor, spectacular chip design (very little lag between processor and cache/buffers) and better texturing capabilities than the xbox. It also has the power of Pokemon (I don't mean just pokemon, it basically the entire children's market) and it also has Nintendo Exclusives. (Mario, DK, Metroid, Zelda etc etc)
Who is the winner? Us actually. I'm looking forward to this generation of games. For the first time (beginning with the Dreamcast) I read reviews that talk about how the arcade games pale in comparison to the home ports (Soul Calibur anyone?) I remember a time when they used to talk about arcade ports as though they were a waste of time because of the sacrifices that had to be made.
If you ask me, I hate microsoft. I've got a Sony, and I'll double up with the Nintendo. That should cover pretty much every good game that comes our way, and then some.
If you are going to buy the Xbox, wait a little and see. It's entirely based on components that can are or will be readily available. Take a look on the dark and shadowy areas of the net, and see if they come out with patches to play Xbox games on the PC within the first year. Sounds rediculous, but believe me that the pirates are faster than the corporations.