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Then again after writing that ^ I run into this article:
PS3 to Have More First-Party Games Next Year, “an Incredible Lineup” Over the “Next 2-3 Years”
Looks like they really are aiming for the 10 year life cycle.

http://www.playstationlifestyle.net/2012/09/20/ps3-to-have-more-first-party-games-next-year-an-incredible-lineup-over-the-next-2-3-years/