I'm probably the only person on these forums who doesn't beleive that this is a big deal. The big companies like Nintendo, EA, Sony, Microsoft, etc each have their own shows to show everyone their shit. They don't need E3. Last E3, EA spent $10 million on their booth. I'm sure Nintendo and Sony spent just as much. That cost is no where near worth it anymore for them, I'm sure. Instead of dropping $10 million on E3, they can just go do their own show.

I myself would much rather see a dozen or so gaming conventions from these companies spaced throughout the year than just one mega show in May.