The biggest reason for the longevity of the last console gen was that the leap from SD to HD home consoles was so huge in terms of graphics that the PS3 and 360 were able to outlast the typical 5 year console cycle, as by 2010/2011 there wasn't a big enough leap in graphics to warrant brand new hardware @ around $400 presumably.
Plus, the 7th gen was also the first generation where all major consoles were fully online capable right out of the box, which allowed them to receive constant software/firmware updates that helped add to their longevity as they kept receiving new features that weren't available at launch.
On 2/24/13, MB1025 said:
You know I was always wondering why no one ever used the dollar sign for $ony, but then I realized they have no money so it would be pointless.
