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Soundwave said:

There was never a time where "people just appreciated what they had".

The N64 was announced in 1993, when the Super NES was barely 2 years old in the US. Dolphin (the GameCube) was announced in 1999, when the N64 was 3 1/2 years old. And speculation was rampant when they were announced. 

My personal favorite is the Game Boy Advance. Its first details, including the code name Atlantis and some fairly accurate technical specs, were unveiled as early as 1996, two years before the Game Boy Color was released. And it was confirmed in 1999. Even though it wouldn't actually be shown in any form until August 2000. So in total, rumors about the GBA lasted about as long as the GBA itself.