This could always change and something could change my mind - like winning the lottery. So, why am i not thinking of jumping in to the inevitable next-generation console race?
One reason is diminishing returns. Previous generations had seemingly big leaps in graphical fidelity, sound, storage medium, etc. The codecs and middle ware may have changed/improved, but the games really haven't. i am at the point where i am not really seeing a big improvement - Xbox to Xbox 360, most of the improvement is in the digital distribution space.
Graphically, HD looks nice. However, with my questionable eye sight - 720P is all i am expecting. i don't have a big TV and am not sold on 1080P (or Super HD whenever that comes out). What the developer can focus on is the games not having as many graphical problems - like screen tearing and irregular frame rates.
True, there may be an impending problem with disc space. However, it wasn't a problem in the Play Station 1 days. In fact, back then i would look for RPGs with multiple discs. i am fine with multiple discs if a game has to be released that way, but games aren't big enough to justify something like Blu-Ray as a default media. If i had my say, next-gen would go to 8-24 GB flash memory.
The games... this generation, the games have been disappointing. Sure there have been some unexpected standouts (for me: BioShock, Lost Odyssey, etc), but for the most part the games seem stale and the "stories" (provided games have them anymore) are derivative. Like the movie industry, it feels like everything has already been done and there is not much place for any real innovation. Part of the problem is that games do seem stale and overly complicated. i think to myself, great - why do i have to use every freaking button on the controller to perform actions that do not strengthen the experience.
On-line play... this seems to be one of the two breakthrough categories this generation. On-line in the new buzz term. It seems like companies are jumping on the bandwagon to try and add legs to the gaming experience. So, you have some companies taking resources from the single player experience and tacking it on to games that really should have no multi-player components. This is a disturbing trend that seems to be picking up steam with publishers. The theory being that on-line modes extend the play length value to consumers (so they won't trade in their games for store credit as soon). Not every game needs on-line interactions. However, i do like the network interface of gamerscore, avatars and a persistent on-line identity.
With that being said, the other breakout component of this generation has been the digital marketplace. XBLA has been a breakout success. In addition to XBLA, you have the game marketplace where add-ons can be purchased. This is another ploy to get you to hold on to your games and pick up some additional revenue as the game ages. Some add-ons extend the experience by hours (or minutes at a time). The value a person places on that varies from person to person. Digital distribution is the future, but people need to be spoon-fed the way it works. Unfortunately, XBLA is what happens when you have a smaller service make it big. The earlier, smaller games have gotten edged off the service in favor of the more "blockbuster" games - larger, more expensive to by and with higher budgets. XBLA was the perfect place for some of these more offbeat titles. So, i kind of see XBLA turning into a service for not quite viable commercial games, not what it used to be.
To sum it up, it is not like i feel there will be another video game crash... However, i feel that the current generation is doing what it was supposed to do (outside console failures). Kinect is a nice of pace change that will expand this generation for me several years. The next generation will likely include higher prices and higher game budgets - for little (if any) improvements in gaming experience. At this time, i cannot justify the initial expenditure it will take for a next generation console amid my growing disillusionment of a medium experiencing growing pains and an identity crisis.
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