Sony (SONY -0.33%) won the E3 gaming conference this year, hands down. Gamers watched Sony make all the right moves with the Playstation 4 while Microsoft (MSFT -2.45%) dug itself a dangerously deep hole of content-use restrictions, capped by an oppressively high product price.

Redmond heard the complaints, loud and clear. The Xbox One will now come without a lot of the restrictions that made it look like an early loser. Suddenly, the system has jumped ahead of Sony's rival product in online pre-order sales lists.

Microsoft is a contender again. The only sure thing about this holiday season's video game race is that Nintendo (NTDOY -1.25%) will eat Microsoft's and Sony's dust. If Mario makes a real comeback, it will happen long after this year's Black Friday.

In the video below, Fool contributor Anders Bylund walks you through how he arrived at that conclusion.