Seems a little ambitious, at the far end of the scope they are looking at barely 4 years on this current platform.
http://www.techeblog.com/index.php/tech-gadget/playstation-4-by-2010
...I do see Microsoft making 2010 its next console year as well. 5 years on the 360 platform seems about right.
Sony claimed the PS3 as a 10 year platform in some interviews / announcements. Odd unless they plan on over lapping support.. Then again I think the PS2 is out selling the PS3 at the moment. Maybe that is just the time to release, not until they can ship enough to replace the PS3. ;)
Some big games like God of War 2 are still coming to the PS2. The PS2 will sell for a long while yet.
The PS3 as a 10 year platform seems like a long shot, in 10 years we can only imagine where we might be in terms of mathematical and visual power. I need a time machine.