Xbox 2 in 2005?

Okay, if the Playstation3 is indeed delayed until 2007 and Xbox2 is out in 2005, we're going to be seeing a drastically different gaming landscape pretty damn soon. It's clear that Microsoft wants to be first out-of-the-gate but it seeems a bit unlikely that they'll deliver a full year-and-a-half to two years ahead of the king of the hill. If they do, however, then they take two major risks. One, the hardware supremacy they enjoy now would disappear, since Nintendo and Sony would never release an inferior machine. Two, they risk being the first to market, which has spelled certain doom to previous consoles. Then again, if Sony makes the mistake of holding off their game console just so they can support the next-gen DVD standard then everyone's acting like a chimp.