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Consoles have sort of hit a wall. PCs have just smashed through one that's about 10 years old. If we're talking about tech jumps, for the most part you have exclude consoles, because that isn't where the cutting edge is.

The 360 and PS3 use fairly old technology. Something like 2004/2005. Not ancient, but by tech standards 2-3 years is pretty old.

An article on why Crysis will never be on a console.
http://www.crysis-online.com/Articles/crysis-on-consoles-the-facts-of-the-matter.php

This level of calculation right now is just being explored. Dual and Quad core processors, these new cards coming out, maybe (mmmaybe) PhysX cards. and DirectX 10 are opening some new doors.

You thought 800 zombies on the screen at once was awesome. How about thousands?

Granted, it's still in its infancy. Crysis and the new Star Wars game on PC will nudge what's capable, but within 2 years I imagine consoles will seem archaic and quaint compared to the massive leaps these new processors are capable of.

Engines like euphoria are making animation a ton easier, which will mitigate other expenses. I'd look up more on what else this new tech will make easier, but I'm too lazy at the moment.

Ironically the 2 biggest gaming tech jumps have been the Wii (horrible power wise, but revolutionary controller), and the PC (same old controller, insane power).