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@Reasonable

If you're thinking of absolute innovation and new experiences...you are right. However there are plenty of examples of games that have innovated more than their share with old genres in the last few years...

Boomblox, Braid, RE4, MGS series...

In any case, i think the market is too competitive for companies to be taking risks...well the risks you are talking about anyways. After all, Sega used to take lots of risks and we all know how that worked out...