This is pretty much Sony's conference to lose, if they end up revealing stuff that is more in line with what Microsoft is doing, then I can see it turning kinda ugly (after all, birds of a feather...). However, if they are at all smart or have any shred of intelligence left, Sony will position itself as the anti-Xbox One and probably win a lot more of the audience. They don't even need game promotion at this point since it's largely assumed all 3rd party titles will be inter-compatible as has been for the last few generations, just say that nothing's changing with regards to used titles and always on connection is not required and they'll win the day. I hope they'll be improving their multiplayer online experience as well, yes it's free, but why else is Microsoft still making a killing charging for theirs? Because the Sony one kinda stinks.
As for Nintendo, just introduce more first party titles and actually make them come out soon. We get your 3rd party is still in the shits and it probably will always be at this point, but that's why your 1st party titles are all that more important and you need more of them. And of course, as the only really decent handheld remaining since the Vita is yet another flop, hopefully they have some answers considering smartphones and tablets are eating away at that market pretty heavily.
Microsoft? They're going to be all about damage control at this point, if it's even possible. I mean if you think about it, the "have to connect every 24 hours" thing technically isn't unreasonable for your average teenager or young adult in America, but for the more rural parts, overseas, military, hell places with bad wifi or companies, etc, it's more akin to a death sentence. At this point I expect them to lean heavily on promoting whatever 1st party or exclusives they can nab and retain.
