Elder Scrolls V or Mass Effect 3. Game of the Year. Calling it. At least in my book.
Expect Modern Warfare 3 with a halfassed story to end the trilogy and some uber reveal that goes against game naritive by saying Gaz was Ghost and he's not really dead but comes back to kick ass.(Not likely, the second half at least)
Expect a new Halo announced by 343 Industries.
Ocarina of Time, Star Fox and Kid Icarus I see as launch titles for 3DS.
Skyward Sword to be meh. At best.
Kinnect and Playstation Move to both epic fail.
God willing a Knights of the Old Republic 3 announcement. And not this MMO
****.
Apple to make more of a name in the handheld gaming market via the iPhone and iPad. (You have to admit for a dollar soem of those things are addicting. i.e Angry Birds)
Sony to release the PSP2 and nobody care. Again.
The Infinity Ward workers who left Activision make a new killer IP to distract attention from MW3 that nobody will catch on to for another 4 years.
Announcements:
Grand Theft Auto 5
Pikmin 3
Footage from Metal Gear Rising
Kingdom Heats 3(Probably not.)
A Somewhat solid looking Final Fantasy.(VERY Doubtful)
I expect solid details by the end of the year about the successor to the Wii. Microsoft and Sony wont announce anything until E3 2012 imo.