I could go for as little as every 5 years if the traditional concept of 'generations' changes. Where instead of a new platform we just get a new target of power that games can harness. Where every game released is forward and backwards compatible. Basically that the fundamental platform is the same each new SKU release.
If they could do that for at least 3 cycles with a possible fundamental reboot in platform (only if necessary), I would be happy. If that just wouldn't work I would opt for 6-7-8 years between new generation releases with support for previous generation lasting 1-2-3 years.
Of course console gaming is going to enter a period of higher flux (volatility) in the next gens with dropping physical media (its only a matter of when), with streaming taking over the majority of gaming (its only a matter of when). So much of this discussion could be entirely moot when we don't even need 'consoles' in the first place.
A warrior keeps death on the mind from the moment of their first breath to the moment of their last.
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