Okay, let's try to put things in perspective here.
The conference started out quite strong with Uncharted 2. It definitely looks like it pushes the PS3's power pretty far along. The conference had an exceptionally strong last 10 minutes or so with GT5, Last Guardian, and God of War III shown consecutively. Yeah, it sucks that the leaked footage took out a lot of the wind from Last Guardian, but the additional footage and different graphical style helped things. At least, it's more than enough to make most viewers forget about the previous two hours of the conference.
They definitely focused on the PSP a lot more than usual, with actual games being released in 2009 and early 2010.
But do remember, this conference was at least two hours long, and a strong start and a strong finish has the tendency to eliminate memories of the middle. First off, announcing new games or exclusives without telling us a damn thing about them is not effective strategy (Resident Evil PSP and Agent). Second, the reaction to the motion wand is absolutely amazing. Most were skeptical about Nintendo using it, yet the minute Sony uses it it's a saving grace of the console? Get that shit out of here.
The FFXIII English trailer was good. FFXVI was just a massive cocktease. I mean, that's good for FFXI fans, but if a PC version does come out, I think we all know what's going to get the majority of the love.
No PS3 Price drop and the $250 PSP Go price points pretty much points to the fact that Sony either does not get or simply cannot do anything about pricing themselves out of the market.
For the PS3, the 2009-early 2010 schedule looks pretty barren. I guess that will sink in deeper later on this year.
With Microsoft, they kept a steady stream of games going. With Nintendo, while they did have some really BS moments, they at least were able to bring out multiple surprises that no one saw coming. I would pretty much put Sony at a middle-of-the-road C at this point. Definitely the worst showing out of the big three, but far above the likes of EA and Ubisoft's conferences.