Panama on 11 October 2012
I doubt either Sony or MS are in any sort of rush considering they still make a pretty penny with minimal effort. It's as though they're both in agreement not to drop their prices and maximize their profits as much as possible. Crysis on PC back in 07 still looks better than anything on current gen consoles but no one was too fussed about it, current consoles are still quite capable of producing good looking games if Halo 4 and Last of Us are anything to go by.
