I watched the conference as well, just to see what Microsoft are up to. While they had some nice things to show, I felt it wasn't as good as some people are making it out to be. Sure, Project Natal looks interesting, but this has been on the PlayStation for years now. Maybe not voice recognition, but everything else. I wouldn't say it's ground-breaking. But it looks interesting enough.
Also, not a lot of good games coming out, other than Final Fantasy XIII and Metal Gear Solid: Rising, which are both coming out on the PlayStation 3 regardless.
I'm actually considering buying an Xbox 360 for the few exclusive RPGs and to play multiplayer games with a few friends locally, so I was expecting something to push me into buying one next pay, but I have to say that after their conference nothing groundbreaking was announced that makes me want to rush into buying one any time soon. :/