There are currently at least 5 games coming out during the first half of 2008 that I care about, which is more than I could list a year ago for 2007. I really enjoyed this year, so I'm pretty optimistic. The second half of the year is looking pretty empty at the moment, but then again we didn't know about No More Heroes, Umbrella Chronicles, or Nights this time last year.
The other consoles look a bit better, but that's just because they have so many sequels coming out. Sequels these days seem to be announced even before the console they're coming for is released...
btw, Project O has already been named Ousama Monogatari/King Story. official site







