Smart move by Sony I think to go along and not wait untill 2012.
The 360's head start is what made gamers look into what it's about and apreciate it (since it was the only next gen system out for awhile). If they both launched at the same time PS3 might have crushed 360 sales just because of the name alone (since everybody was familiar with Sony and there PS1 & 2).
At the end this is better for us either way you look at it be it a fan boy of one or the other, a media freak or just a
die hard gamer