Hold onto your tinfoil hats, people: we could be in for a wild ride this year.

According to UK retail and trade site MCV, there will be new PlayStation and Xbox consoles revealed at this year's E3. Nintendo has already confirmed it will show off the final Wii U form at E3 2012, potentially leading to a three-way scrap for early console column inch dominance.

While Wii U will launch this year, it seems unlikely either rival console would launch less than six months from their initial reveal, but stranger things have happened in this industry.

Do you think new, more powerful versions of rival consoles could put Wii U in the shade or is Nintendo's new trinket interesting enough to hold its own?