At Video Games Confab, No Bells and Whistles

Sony, once the leading console maker, now sees its Sony PlayStation 3 locked in a tight race with Microsoft's Xbox 360 and lagging significantly behind the Wii. Sony will use the event to get gamers excited about its console by offering a look into its upcoming exclusive titles such as KillZone 2 and Resistance 2, says Steinberg.

The company could also offer an updated look into its much-anticipated game, Little Big Planet, and its long-delayed PlayStation Home service.

Among game publishers, Electronic Arts(ERTS Quote), along with Harmonix and Viacom's(VIA Quote) MTV Networks, is likely to show off Rock Band 2, the sequel to the hit Rock Band game released last year. Rock Band 2 could feature new guitar shaped and drums accessories.

EA could also demo its popular Madden NFL football game that hits its 20th anniversary this year, say analysts, and focus on its casual gaming offerings.

Activision isn't participating in E3 but the company will hold its own press conference away from the venue. Analysts expect the company to announce and give users a look into its upcoming titles such as Guitar Hero 4 and Call of Duty 5.

Although THQ(THQI Quote) had its gamers day a few months ago, the company is likely to show an updated version of its Saints Row 2 game at E3. "A good playable version of that game might encourage some investors," says Greenwald. THQ's stock is down about 31% this year.