Sony will release its next generation video game console, the Playstation 3, tomorrow in its home market of Japan, where gaming fever is in full force and effect this holiday season, with an Xbox 360 upgrade and Nintendo Wii also set to launch. Nintendo Wii will be released in the United States on November 19.

The relative success of the Playstation 3 versus the Xbox 360 HD-DVD upgrade will affect not just the gaming industry, but the home entertainment and movie industries as well. Playstation 3 will use Sony's Blu-Ray technology, another next-generation home video standard. Whichever gaming console does better may tip the scales either way.

Sony has been playing catchup with Nintendo and Microsoft since its poor showing at the Electronic Entertainment Expo this summer. It boasts the highest technical specifications ever seen in a home video game console, including built-in digital audio, HDMI and several USB ports that allow a variety of computer peripherals to be connected to the gaming platform.

Nintendo is marketing their console by advertising a system that can be played by everyone from small children to grandparents and is going back to its roots by offering classic game downloads including Super Mario 64 and Donkey Kong. Sony is also fueled by a line of well-followed titles including Metal Gear Solid, Final Fantasy and Gran Turismo.

Microsoft benefited from specs by being the first to release an high definition gaming console, long before Sony could put out PS3. Their titles are not as deep as the former two companies, but their action and sports lineups have helped drive their success. They are also eagerly awaiting Bungie's Halo 3, the next installment in Xbox's marquee first-person shooter game.

The next few months are shaping up to be legendary in the gaming community. It will be interesting to see how things unfold and if Sony can keep its title of No 1.