Boutros on 03 May 2011
For me AAA is simply a high budget video game.
It might not end up being good or it might not receive much marketing but if it has a high budget it's AAA.
Recent example is Homefront. I'd consider it AAA even though it was generally poor quality wise. The development of the game was big and it had a big ad campaign.
That's also the definition publishers use to describe their games.
