I think we will definitely see bargain games selling faster next year. Maybe even see XBL and other cheaper downloadble titles moving units. If you look at recessions in the past - entertainment normally did pretty well because people want to be distracted from the sad things happening in their lives.
Movies might even make a rebound and start selling tickets - at the dollar theatres...
Consoles and brand new game sales will probably be down quite a bit if the economy keeps trending down.