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o_O.Q said:
if there isn't a significant leap in power why would there need to be a next gen in the first place?


This.

People seem to forget how sales are getting more proportionate with graphics as time passes by, which is also a great reason to why the Wii U has to be released first. MS/Sony tried to overlook this by releasing Kinect and Move, but that obviously didn't help sales too much, and soon there will be no more room left for price cuts.