I reckon about 30-40 years and games will be taken seriously by the media. The ridiculous sales of games like MW2, GTA and Wii Sports help, but until more people from the current gens grow up and enter media jobs things won't change.
Actually, a lot of people from the 80s and 90s have gone on to enter both the 'media' industry and gaming industry. The problem is, those two industries are so lucrative, you have to have both extreme credentials AND pretty much 'know the right people' to get anywere. As for melding both those industries together, we've seen what happens with that idea with sites like IGN, GameSpot and etc....that's just an extension of the worldwide problem of media bias. And I doubt if a new group of people took over those sites that we'd see much of a change, just a new set of bias.
Perhaps, but I think gaming was and still is in it's infancy. even in the late 80s and early 90s it was still seen as more a thing for children to do. Playstation introduced the concept of an older audience with it's games, to the mainstream, but that's still less than a full generation (not console- 20 yrs) ago. Although PC games may have been seen as mature before, they really didn't enter mainstream attention. There are probably very few gamers in senior management positions within the mainstream media.
The thing that's different about the gaming industry is, there's a lot of smaller companies started by 'gamers' who are now in their mid 20s or early 30s. Even some major companies like 2K2 games and such which are run by the younger generation. True, most of the major corperations such as Nintendo, Konami, EA, Midway are all probably run by people over 45, but there's a lot of newer blood in the industry. From the small 3 man groups making WiiWare/Live games to the Upstart companies signed on with the big companies like EA, SCEA, Nintendo. So they're out there.