My guess? Four factors.
1) As you said, the economy. Cannot be minimized.
2) Slow time of year. Slowwwww.
3) According to VGC, this gen has already sold some 102 million consoles. That's actually a lot as we are technically about 3.5 years into the current gen (2.5 for the Wii and PS3). Which leads us into ...
4) Consoles this gen are still expensive compared to previous gens. They're not mainstream priced yet. The PS3 isn't anywhere CLOSE. Until they all become cheaper, things will not pick up substantially. The expensive one should be $199-249 at this point in time. That being the case, this gen will HAVE to last longer just to get consoles to those lower price points and relative profitability.








