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Okay, based on peoples' responses, I'm going to say a AAA title is one with a $25 million or higher budget for development and/or marketing. In 2012 dollars. Using that basic number:

*E.T. was the world's first AAA game by modern standards, due to the sheer expense of purchasing the licensing rights
*Duke Nukem Forever was a AAA game
*The original Assassin's Creed might fall a bit short of AAA status, but the 2 and 3 definately qualified