that Cell processor is a beast that few companies have managed to top.
That's because from all accounts it is a major pain to try to program for.
No no, I mean few companies have managed to make a more advanced processor. The Cell was far ahead of it's time, and I think the PS3 has plenty of life left because of this.
Look at the CPU in the Xbox 360, it's severely outdated compared to today's chips. And the Wii is even worse.
Nintendo needed to make a new console because they are so far behind the rest of the industry. The Wii was underpowered the day it came out.
Microsoft will come out with a new Xbox soon enough, because the Xbox 360 is already showing its age.
Sony can afford to keep the PS3 around for a few more years, because the Cell processor is so advanced. Developers have recently come to grips with programming for the PS3, and Sony would be a fool to bring out a PS4 so soon.