We do need new consoles. In 2012 console sales will be HORRIBLE. I expect Microsoft to announce a new Xbox in E3 2012 with a release in early 2013. Holiday 2012 is we're lucky.
Sure next-gen games would cost a lot more to make but shouldn't have companies been preparing for this? I know Square Enix is prepping for this. So is Activision with its multiple studios working on COD yearly releases. I expect Infinity Ward and Treyarch to work together for the first next-gen COD.







