The Xbox thing was a lie. The guy confessed. I’m guessing 2013.
Sony was losing money but has just recently started to make some off the PS3. The reason PS3 is so hard to develop for is because the devs made it that way (on purpose). They did this because they didn’t want the PS3 to be capped in 2006. So there is a learning curve and games keep improving until PS4. PS3 is not capped yet. Guerilla Games thought it was with Killzone 2 but God of War 3, Uncharted 2 and Heavy Rain came out. They all thought they capped it too but someone always finds more room.
I read about Milo and Kate for 360 (the graphically inferior platform) and was surprised to see how great it looked. The secret was a new dev tool that can produce 10 billion polygons (up from 10 million). It works for PS3 too.
Look at the faces of L.A. Noire as well. The reason they are so real is because of the methods of development.
TL;DR. Both consoles have room to improve (look at the difference between Simpson’s Road Rage and FFXII for PS2).