The way things costs now, it would be stupid for any of the big three to switch their major chipsets to something completely new and unfamiliar, especially the PS4 and Xbox 3. Obviously developer know how will be important in the transition, and leveraging that with more powerful but familiar architecture would only serve to benefit everyone, especially, if a minor upgrade in power is the plan (like 3x or so the graphics and computing prowess).
Sony certainly seems the most mysterious at this point, and to be honest, I think they should stick with a new upgraded Cell variant as has been rumored. Improved SPEs, hopefully 16 of them, and Power7 based PPUs (x2?) would make it much more powerful, yet developers would automatically understand the architecture. As for the GPU front, I would be very surprised to see Sony cock block Nvidia. Fermi is a good architecture, and even something as "minor" as GF106 (GTS 450) would be a good 4x the capability (probably much more) of the RSX, with no Cell assistance needed. The similar hardware would make semi-hardware backwards compatibility a reality too, with the extra Cell hardware working to translate RSX functions into GF10-whatever compatible code.
Decent backwards compatibility and developer familiarity will be more important than ever for the next round. Nintendo could afford it's fresh start. Microsoft could too (barely), but they know they need to keep things simple and just get the games out more than anything which means giving developers the means to make good software without too much of a rise in cost. Sony easily is in the biggest hole here, and I'm beginning to think it's the beginning of the end for them in the home console business. I think there are two or three major rounds left in the industry before everything just goes into phones, tablets and practical computing platforms which will be just as good at delivering entertainment in the home as well as on the go via wireless functions like sending video wirelessly. If anything consoles are just reverting into fixed function boxes like media systems and DVRs, and that is a likely course for them. They won't be "real gaming platforms" anymore. Just true entertainment media systems running software that is analogous (yet proprietary) with what will be in other devices like they are now, but with less focus on gaming.