I don't think its fair to say Nintendo make toys whilst your praising Sony's own Wii Wand copy. Toys, are also a form of entertainment and whilst personally I'd still say Nintendo are firmly in the gaming industry, they are not in the "gamer industry". Sony, in my opinion are massively fantastic (especially lately) at appealing to all demographics and types of people. Casual gamers get caught on with SingStar and EyeToy and the hardcores come for Final Fantasy, war games etc. Microsoft, although proved successful with their lineup (especially for the late-teens audience) still cannot reach the younger ages like Sony could with Crash Bandicoot and Rachet & Clank (see Viva Pinata and Lips).
The actual conferences, Microsoft were flashy, attention-grabbing and quite awesome with Felicia Day and Steven Spielberg. It was a real show. Nintendo was average, with decent people celebrating their games, but I didn't really think much of the things they were showing off. I'm still confused about that Wii Motion Plus thing, why can't my original remote play archery? And a heart-beat monitor, WTF? Sony merged nicely, with some statstics and boasting (like Nintendo) but it also had the sleek shock factor (for me anyway) about some of the announcements.
I enjoyed them all, though.