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Killiana1a said:

I have to agree on everything, but I want to add a few things.

First, when the companies reps talk about "our console will last another 5 years," what they are implying is that they will be making a profit off of those consoles for another 5 years. This has nothing to do with whether or not they currently have a successor under development or not. All it means is that over a 4 to 5 year period, they have gotten down the costs of producing their console to a point where they are making a generous profit off of each console they sell.

Second, neither Nintendo nor Microsoft want this generation to go on another 5 years. If you compare the graphics for Mafia 2 between the PC, 360 and PS3, you can really start to see the age of both the 360 and PS3 in comparison to the PC. For example, you cannot even get a clear reflection in a mirror of your protagonist in either the 360 or PS3 version, while your reflection is as clear as day in the PC version. At this point, the HD twins are beginning to show their age meaning a 2012 or 2013 Xbox 360 or PS3 successor is not far fetched at all. I expect a Wii successor come holidays 2012 or Spring 2013 at the latest.

Finally, as for Kinect and Move, expect the 360 and PS3 versions to be entirely compatible with the next generation Sony and Microsoft consoles with two versions of the same game, one for the older and one for the current console.

I'm pretty sure every system and the bulk of their associated peripherals will be compatible with the next generation.  At this point, not making a system backwards-compatible is damn near the same as flipping off the fans.  One of the biggest complaints about the PS3 (besides its price) always seemed to be how it wasn't always backwards-compatible to the PS2.  Yeah, you have a good point--Kinect, Move, and the Wiimote and all it's assorted crap will all likely be compatible with successor systems. 

I've seen the clip comparing Mafia II's graphics, and to be honest, I think that's pretty minimal--noticable side-by-side, but then, PC is always a bit ahead of the consoles anyway, because PC can be constantly upgraded.  I'm still blown away by some of the stuff I see in some Xbox360 games.  I think it's going to be hard for most to see the graphical improvements in the next generation, unless they all pull off some real magic.  Like, hardcore gamers are going to be able to see the advancements, but average consumers aren't going to see the point in blowing money on the new systems--which is why your point of the consoles remaining active on the market for additional time is important. 

Hopefully Nintendo and Microsoft will maintain their current machines after the successors launch.  Both Nintendo and Microsoft axed their last-gen machines last time, almost immediatly as the successor hit the market.  The NES survived almost two years after the SNES launched.  The N64 was dead nearly a year before the GameCube hit the market.  The PS2 is still available for sale--and people still pick it up.  That system has lasted an incredible 10 years.  Because Sony was smart enough not to just drop it because the PS3 was out.  They didn't alienate their own customers.