I really started gaming hard during the 16 bit era on the Genesis. Games like Sonic and Streets of Rage hold a very special place in my heart. But if I had to pick one generation, it's gotta be 32-bit. In many ways the first generation of true 3-D has probably aged the worst of any generation. However, a testament to the quality of that generation is the fact that I was still buying and playing PS1 games up till the launch of the PS3. Squaresoft had a lot to do with making that generation great with 3 FFs, Vagrant Story, Parasite Eve, FF Tactics, and my personal fave Chrono Cross. I still listen to the Chrono Cross soundtrack it's that damn good.
My Top 5:
Shadow of the Colossus, Metal Gear Solid 3, Shenmue, Skies of Arcadia, Chrono Trigger
My 2 nex-gen systems: PS3 
and Wii 
Prediction Aug '08: We see the PSP2 released fall '09. Graphically, it's basically the same as the current system. UMD drive ditched and replaced by 4-8gb on board flash memory. Other upgrades: 2nd analog nub, touchscreen, blutooth, motion sensor. Design: Flip-style or slider. Size: Think Iphone. Cost: $199. Will be profitable on day 1.
