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I don't think any of the big three delivered on their vision for this generation.  Let's take a look:

360

Did a lot of things good.  Graphically great, processing great, but some of the physical features really stink.  Like, what about the noisy optical drives and fans?  I was hoping to scrap all my DVD players in favour of 360...  Now, well, let's just say it didn't happen.  And the RRoD caused 30% failure rates, which has really cost Microsoft a lot of ground.  I went and had to take two of my 360's back.  Went to the courier to drop them off.  in the line of 10 people three had 360's and 2 picked up 360's while I was there as well.  That courier is making a mint delivering 360 rebfurbs (Invest in courier stocks I'm thinking).

 

PS3

Again, did a lot of things good.  Graphically great, processing great, but what about the development environment?  With a very large portion of multi-platform titles not physically performing as well on PS3 as 360 it can't be only developers faults.  And whats worse is that it looks like Sony's growing solution is to install the software on the internal hard drive.  Do they have some sort of fundamental issue within the console?  It would seem so.  Why are so many companies coming out and saying PS3 development held their product back?  Why would Devil May Cry require a hard drive install if there wasn't some sort of fundamental issue there.  Also, Six Axxis can only be considered a flop.  Especially since they didn't put rumble in at the start.  And price...  they are moving down, but they are continually about $100 more then the mainstream selling 360 premium.

 

Wii

Yet again, did a lot of things right.  They really found a winning formula where many have failed before with motion controls, but forgot to put the power behind the device to get the kind of graphics and AI we are seeing on 360 and PS3 in games like Unchartered, Resistance, Gears, Call of Duty, and Halo.  And why not a DVD playback from the start?  No doubt Wii got the most right.  Everything works great and the limitations of the console are well known to developers.  But, doing things like the Unreal Engine III, consistent implementation of multi-player, and the choice to put more "proven" processing technology within the console is going to hold it back over the long term. 

My summary:  This generation has turned out to be more of a dissappointment then the Next Generation of consoles where we were all supposed to be heading into gaming Nirvana.  Imagine a box with the raw power of PS3, the Blu-ray playback of PS3, the throughput architecture and development environment of 360 and online marketplace / multiplayer of XBox Live, and the motion controls of the Wii.  Then, somebody would have got it right.

To me I am looking to the Next Generation already because no one really got it right this time.  What do you think?