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To be clear..

Take Nintendo DS and PSP for exampel. The DS has gone from being just the DS, to DSi and soon to 3DS. All is within "this gen". PSP has had 1000-3000, and even a "futuristic" DD only PSP Go. These are the types of upgrades i see for the Consoles this gen. But that isn't really "next gen".

And just think about the difference from PSP 1000 to PSP Go. From a solid handheld to a slide look with focus on portability, and from UMD to DD etc.

Even looking at the 360. From a 360 with blade interface, to bigger standard HDD sizes, to a new UI, to the shutdown of the Pro, to Jasper, to freaking Natal and onwards. All within the same gen.

So again.. i dont see why there's any need to be a "next gen" for the consoles in two-3 years. But that dosen't mean we wont see a slim 360 with built in natal, or a PS3 with upgraded Blu Ray and better 3d processing powers. I just dont see a 720 or PS4 in 2012 or even 2015.