It's hardly pissing all over the Wii U...
Ummm...
It really is, Harv.
As I've mentioned before, if it were 20% more powerful than the U then it'd be a big step up. If it were 30% more powerful it'd be quite a big step up. This isn't just 40% or 50% more powerful - it's about 400% more powerful. It's Bugatti Veyron vs ...
(damn, was gonna put Skoda here because I'm old and still remember them being a laughing stock, but they're way better than a Nintendo these days. Erm...) ... It's Bugatti Veyron vs Model T Ford.
Similar architecture inside them - both have internal combustion engine, a wheel at each corner, etc. You'll find the modern car outperforms it's distant cousin though.
The U is dead in the water.
Getting back to the proper consoles, then...
Sony's CEO was asked about then next console a couple of days ago, and replied "why go first when your competitors can look at your specifications and come up with something better?”
I'd guess that refers to revealing details of the console rather than bringing it out. I doubt Sony want to give Microsoft a big head start in terms of release date - but it's an odd thing to say. If Microsoft wait until E3 Sony can't really wait to see what they do then consider their options.
I say "if", as there's rumours MS might reveal details before E3 - though that seems unlikely, tbh, as they'd actually be doing what Sony have effectively just asked for. It's probably too late in the day to change much on the machine, but if both companies are aiming to release around November then it'd be silly for one of them to reveal details a few moths before the other - it'd be giving their rival a great chance to tweak one or two things and to tailor their reveal in a way that'll stress the elements of their machine that put it above the other whilst highlighting any shortcomings their rival has...