If Oddworld were to still making games today (Munch's Exoddus, Sqeek's Oddysee, Fangus

), they would surly be able to have it on the PS3, as state said to be technically most powerful, while the X-Box360 looks to be just as good (I seriously can't tell the difference graphic wise).
As for the Revolution, I love Nintendos and their franchise games (hey they blood some of the best, gameplay rules all, screw it if it doesnt look "mature"), but the thing is Nintedo charges high fees to make games for them too, plus the new controller could not be a good thing for a Oddworld game. It could, but not likely (imagine playing Abes Exoddus with it...Stranger Warth could work well).
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Consoles are limiting Oddworld in what they can do. I'm absolutely positively sure that Lorne and his crew can create a game that is so graphically beautiful
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Mostly its true, but the have been some really beautiful stuff that have been pumped out of the PS2, look at Burnout Revenge, Shadow of Colossus, Prince of Persica III, God of War and Soul Calibra III, only some slowdown, but still graphically pleasing
I think the problem was the size of Oddworld staff, they are pretty small compare to the other game companies, which really limited them down to focus more on the gameplay then the FMVs and graphic with the time constraints (it took 3 years for a game), as everything was done in house.
They still achieve a lot.
That's my big rant, try and cool down the flaming, this was a really nice place before I went off for a walk bit...