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RPGs cost a lot of time and money to make. Everything being in high definition doesn't help this one bit.

The Western variety is closely related to PCs, so HD console ports are very likely to keep coming. Bioware, the most important developer, being bought by EA probably means all of their future stuff will be at the very least ported by a secondary team, and probably made multiplat to begin with.

A lot of games of the Japanese variety is on the way, but low PS3 sales and huge development costs are probably going to scare most publishers away. Currently everything seem to be heading to the DS (ultra-cheap, high sales) and 360 (bought by MS?), but the Wii should take a lion share of those when its supremacy becomes even clearer. To put it bluntly, virtually every platform on the market is better for making jRPGs on than the PS3, and the only reason there are so many in production is that publishers failed at prediction who was going to be on top this gen. There's a bunch of stuff too far in development to not release like FF13, but don't hold your breath for sequels, unless they do really, really well.