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CaptainExplosion said:

Nintendo's decision to use cartridges for the N64, instead of discs, drove a lot of third parties away from the system. Those who stuck around and compressed sound and video onto certain cartridges (Like Resident Evil 2 or Battle for Naboo) didn't quite make the situation better.

Would the N64 have been better off with CD rom technology like the PlayStation and Saturn? Or would that hurt the system in the long run?

Probably not, considering the PlayStation was a monstrous success, despite most games on the system being bogged by load times.

actually from what I've read about the Nintendo 64 is that Nintendo made the N64 deliberately hard to program for in order discourage shovelware developers.