We most definitely do. The PS360 can barely pull off good stereoscopic 3D, and for that reason alone, I want a significant upgrade to hardware to allow for good 3D.
But as technology for the controllers improve (and that goes for all the motion controllers), we need a new standard for controls and not just a new and improved add-on for the consoles.
EDIT: I do hope this gen will last until 2012 at the least though.