So, is the backwards compatibility overhyped?

[Super_Boom]

For me: It determines whether or not I'll buy a console at launch, or wait a year or two for the library to improve. Even if I can afford it, I have a tough rationalizing buying a system purely on the promise of future games. On the other hand, if the new system allows me to play my existing library, I feel much more compelled to purchase the new platform.
Basically...it's easier for me to rationalize buying an upgrade, rather than an entirely new system with a library that may not appeal to me yet.

In general: I don't think it makes a huge difference, if any at all, as the currents sales paths seem to prove.