I think they will have to keep the ps3 going for 10 years. their core customers are those who want l33t graphics more than anything else. if the ps3 had a 5 year life span the ps4 would cost like $2000 in order to make a machine that can provide a large enough increase in power for consumers to want to upgrade from their ps3.
nintendo is really in the best position for the next gen because they have a lot more room to make improvements while still having their product be affordable. i'm really interested to see what sony/ms do next gen. their core customers are the graphics whores so i think they will be pissed off if the next gens graphics are not a substantial improvement but my god - how much will it cost to build a machine/develop a game that is that graphically detailed.
