The PS3 has been the leading console in AU for the last couple years so its not equivalent in every english market.
Microsofts grasp on the UK/US and Sonys lead in mainland EU are often exaggerated TBH.
Obviously they go into next-gen in better or worse positions but it makes me laugh when people say MS can't take Europe or Sony can't take America. Its not a Japan like situation where its a massive blowout and a lost cause. They aren't that far apart month to month.
I don't think MS' lead in US is overstated. I'd say its pretty tangible. As is Sony's lead in Europe. But I'd agree that neither is out of each others reach.
I only comment on UK because everytime you hear about it, its supposedly a US like dominance for MS.