For the most part the consoles going into a contracted state wouldn't mean that we would get yearly hardware updates like phones do. Phones can get deal with getting updates that leave older hardware in the dust. Consoles however probably couldn't get away with this.
That's probably why were getting rumors of Microsoft having a small arm powered Xbox that only plays XBLA and Media Content alongside the proper Xbox successor.
Is think one of the reasons we probably wouldn't see nintendo come out with a subscription plan is they have none of the ground work laid.
Out of the three Microsoft has laid the most groundwork already having partnered up with a few of the major US cable companies. As well they have already been testing subsidiary models on Xbox's since may of last year and have already expanded it too various other outlets.
Also Nintendo isn't pushing an Entertainment Hub as hard as to a lesser extent Sony is and Microsoft does.
On another note anyone else annoyed that leaks are usually hardware related and never software besides bits and pieces.