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360/PS3 may look great now, but once the next generation starts people will call them crap. And if Nintendo's next system is only slightly more powerful than a PS3 (like Wii is slightly more than xbox). I can see comments like "LOL last gen graphics! Uncharted 3 looks better than this crap!"

The difference between PC and consoles today is so small because of exponentially increasing development costs and Windows XP dominance.

Direct X 9 has been the standard NOT because consoles use it, but because most people use windows XP so they have to make a game compatible with it. With Windows 7 tearing up the marketplace Directx 11 should become the new DX 9.

This generation is already looking to last longer than previous ones. And I thin next generation will last a minimum of 8 years since it really isn't necessary to upgrade the hardware anymore.