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Rainbow Yoshi said:

I have contemplated this for a while but is it too late to buy one?  Generation 8 has techincally started and I am wondering if the next Playstation will be released soon, which would stop me from buying it. There are many classic and new games that interest me, which is why I intend on buying one.

Does it have a sufficiently large library of games you are interested in?  If it does, then why would it be too late?  You know, if you decide to be a year behind everyone else, you will have a good time, and a lower costs.  If you choose to not be obsessed with the latest and greatest graphics, then you should feel like you got your money's worth.