Could the PlayStation 3 end up being one of the best selling consoles of all time, despite Sony's extremely short-sighted release? Some analysts are predicting that the new console will sell 120 million units by 2012, which is nearly 24 million units a year. That's more than three times what the Xbox 360 has sold so far this year. Could they really do it? In the long term, Strategy Analytics says yes:

“Sony will sell everything it can make of its new system. But Microsoft has already had a year in the market to cream off early adopters, so the next few weeks will demonstrate how much pent-up demand there really is for the Xbox 360, and how many disappointed PS3 buyers are willing to switch camps,” said David Mercer, principal analyst for Strategy Analytics.
The statement itself is bold, and it remains to be seen if Sony will be able to fix their supply issue anytime soon. Assuming they do, will the PlayStation 3 still have high marketability in 6 years? I don't see consoles from 2000 selling like hotcakes today, and though I'm sure the PS3 will pick up sales the next few years, I find 120 million a bit far fetched. For the Wii and the 360, they are reporting they will total 23 million and 60 million respectively.