I think its easier to name the franchises that AREN'T oversaturated ;)
However, most of these franchises will continue to sell well even as the games themselves turn to rubish. Gamers today are not smart consumers and they generally buy what their friends are playing regardless of the quality. So unfortunately innovation and creativity is stifled in exchange for incremental improvements and upgrades that constitute most sequels and franchise releases. This is why I love the MODDING and independent scenes where true innovation and creativity rule and not profits :)
Current Favorites:
Wii - Muramasa, MH3, Metroid Trilogy, RS2, Okami, RE4, COD, Dead Space, Scarface
PC - L4D, TF2, BFBC2, Killing Floor, Aquaria, Warsow, many UDK indie games
Mods - MechWarrior:Living Legends, Star Wars: Galatic Warfare, PVKII, Goldeneye Source, L4D mods
PS3 - Demon Souls, Way of the Samurai 3
Social Modding Club: ModDb | Steam
