The 360 probably will have a tough 2009. As you know one consoles loss is another consoles gain.
First things first, in the graphical department and games department this is the year when PS3 will overtake the 360. Gears 2... was probably the best a 360 could do and they have only a little scope of improvement. On the other hand, having played Killzone 2, I can say that PS3 has really nailed it this time. The graphics are phenomenal. Gears 2 in front of it looks as if it's a previous gen game!!! Also, God Of War 3 and Uncharted 2 are said to have even better graphics... so I think after 2009 we wont hear any 360 fanboy saying that graphics on the 360 are better.
Games wise too PS3 has an edge this year. 360 as far as my knowledge goes only has 2 AAA titles which are Halo:OSTD and Halo Wars. On the other hand, Ps3 has Killzone 2, God Of War 3, Infamous, GT5, Uncharted 2, Heavy Rain... Along with it, it also has games like FF vs XIII, Twisted Metal, Quantum Theory,MAG... which will be released sometime in it's lifetime. Also, there are talks of Gears...3 becoming a multi platformer, so, if that would happen, 360 will lose it's second biggest franchise to PS3.
As far as the sales go, you might know that the PS3 is some 5-7 million consoles behind the 360 (it's considered a small number in gaming industry). This is mainly due to the fact that the 360 had a years head start over the PS3 but Ps3 is bridging the gap. With massive games coming out this year, the sales of PS3 are expected to be higher. KZ2 is coming out in 2-3 weeks time and considering the fact that 2 million copies have already been pre booked, it will help the console to sell more units. It been a known fact that when a AAA title appears on a console (like MGS4), the sales actually double for at least 2 months. So I expect Ps3 to outsell the 360 for at least 2 months since KZ2 will be released.
Also, massive franchises like God Of War 3 and GT5 will see many more consoles sold.
I think by 2010, Ps3 and the 360 will be on par. By that time, Wii would obviously win the console race, but I feel the true next gen war will also be over once the Ps3 and 360 are on Par. The Ps3 earns more net profit than the 360. Also, the 360's RROD has caused MS to lose Billions of Dollars. So in the end, only Sony might have the last laugh. As per sony, PS3 has a life span of around 8-10 years. So, that means a new sony console (PS4) will probably be released in 2012 (PS3 and Ps4 will co-exsist just like Ps2 and PS3). But, there are talks of MS launching a new console in 2010(end) or 2011. So, that means that Ms will be leaving the next gen war early and will be bracing for the future next gen wars. So eventually Ps3 will sell more units undoubtedly.