Could this generation of consoles be what pushes the final shift to 64-bit binaries for games? If the PS4 and the next Xbox both have 8+ GB of RAM and developers are making games that use all of that RAM, then it might end up being too much extra work to re-jigger the code for 32-bit XP (either that or PCs will end up with a port of the WiiU port of the game *shudder*)
Consoles are special purse machines, and unlike general purpose machines they probably would rather give the programmers a few more specialized instructions to handle more memory than go to a 64 bit architecture which really doesn't buy them much.
Chances are good a few GB are set aside for the graphics chipset, and its possible that each core in the machine has some dedicated memory beyond the usual caches. It wouldn't surprise me if each core still only had a 32 bit addressing space.
The graphics processor likely has 128 bit wide or larger access to the ram, and like general purpose computers they probably give specialized access to the GPU for parallel processing for physics and graphics uses, where the regular processors would be at a disadvantage.
A real 64 bit data bus really won't buy a console much, and would cost more. Better, for them, to simply make the existing 32 bit bus faster, keep the instruction set small, and allow for a few instructions that deal with the larger memory space. Since memory size is fixed, it won't really be a problem.
But I'm still thinking each of the "8 cores" has dedicated memory, with a shared memory pool they can all access. This way each core would only see 32bits of address space, some their own, some shared, and some controlling hardware.
Pure speculation, though.