Whether it's the Xbox or the PlayStation I really don't know what you are getting for the new systems. I mean, yes, Xbox is trying to bring all entertainment to one box, and that may be something, but mostly it's a convenience, and maybe worth waiting if you don't currently have a console, but hardly a reason for me to upgrade. The PS3 already has a blu-ray player and much greater capabilities than most games were able to realize. I don't see any reason to get a new console until they are being used to create more immersive gaming experiences.
The Kinect, Wii and Move were all steps toward that, but all imperfect and/or incomplete. When the Wii came out it was exciting, but very quickly the limits became obvious. The Kinect and Move were like two halves of a complete setup, both obviously limited by lacking what the other could do (I think the PS Move had the most potential). Really, though, the biggest problem was a lack of compelling games that prevented any of the systems from being fully realized. They were all mostly novelties. Sorcery on the PS3 came pretty close, and the Move shooters were probably ok (though FPS hasn't been my game of choice since Doom 2).
I would love to see something like the Kinect's general motion/voice capture combined with a deluxe version of the Wii balance board (larger for one, so that you could move around a bit and walk/jog in place) and the Move controller combination. That seems like it would be a great platform for lots of games. Since all of those things are already on one system or another, it seems like the current consoles could already do what is necessary. Maybe not, maybe some additional tweaking would be necessary to bring that all together so that it could be incorporated into games (and making games for these systems may actually be the limiting problem).
Something more dramatically different would be moving off screen to video glasses to get even closer to virtual reality. Google glasses actually seems like it could be more of a breakthrough gaming platform than the next crop of consoles.