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BTW I just wanted to add that if things didn't change we would of had a crash of 2012. As games became more narrow and parroted the top sellers with less and less variety to style and gameplay and nothing more tehn more of the same.
PS3 owners can look at LBP to see a new game that is unique(though it si like The Lost Vikings) but most games today are FPSs and Tomb Raider Clones Licensed games(King Kong anyone). Even RPGs are becoming more like FPSs...I like Fallout 3 and Oblivion and Mass Effect but they are only a step away from Bioshock. It si enough to satisify the Hardcore gamer now but even after 3 gens you will become bored with them.
If 3D hadn't come around during the PS1/Saturn/N64 era we may have seen anotehr crash but obviously it did and it opened new doors while the Hardcore gaming crowd moaned and whined about it. They grew up and filled into it like everyone will next gen. Some will leave some will stay more will come in and fill the gaps and perhaps even grow the market.