I think it'll actually have more of an impact than some people think simply because there will be a steady stream of major RPG releases at the end of this year. This is different from before where there was a major release and then nothing for months to help keep or build momentum.
Tales of Vesperia
-Aug 2008
Infinite Undiscovery
-Sept 2008
Last Remnant
-Winter 2008
Fable 2
-Winter 2008
Mass Effect
-Winter 2008
Also on top of that is Star Ocean 4 being announced as coming for the Xbox 360 and being at least a timed exclusive for the system. That announcement could help make the system look even more attractive for people looking at the system this Fall/Winter.