About HW: prices will be quite high for Chinese middle classes at least for some years.
About SW: we can expect racing and other sports games to sell well, obviously according to Chinese tastes and popularity of each sport, so the most popular ones could be different from the best sellers in other markets. But for the other genres, western-biased games won't sell very well, and many of them will require heavy censorship to be approved by Chinese authorities. Chinese games could sell a lot better, as long as they find a comfortable market that isn't catered for by PC yet. Not heavily western characterized RPGs and MMOGs of most genres should do fine too, because unless a bias is built-in too deeply, it's the single gamer or the community that shape them.