Let's see if I can fire up the 286 and remember ...

Atari 2600 - like 2-3 years after it came out
NES - like 8-9 years after it launched
SNES - in 1994
N64 - in 2007
Sega Game Gear - in 1994
Sega Genesis - in 1994
DS Lite - just a few weeks ago
PS1 - launch weekend - had to be like 1994 or 1995 - and paid $299 plus tax for it and got Ridge Racer, Cybersled and Mortal Kombat 3. I was out $500 after the smoke cleared.
PSP - the day it launched
PS2 - 2002
Xbox - 2002
Xbox 360 - March 2006
Wii - May 2007

Personally, I've only bought five consoles, if you don't count handhelds. I'll list in the order in which I bought them.

GCN - purchased in mid '02. Didn't have cash to buy one until then. Had other, higher priorities for a while.

N64 - purchased mine in mid-'06. Was planning on getting married and moving out, and I wanted to take the N64 games we had that belonged to me, but my family owned the N64. So I purchased a second one. Family purchased their original during launch window.

PS1 - purchased for $3 from the neighbor in early '06. Never was a fan of the Playstation brand, but for $3, it's tough to beat.

Wii - purchased at launch in Nov. '07. I've always wanted to purchase at launch, but never had the money. This time, I was 21 and had the cash. Bring it.

PS2 - purchased in spring '07 for $40 from a friend. Again, never that big a fan of the PS brand, but there were a few games I wanted and it needed to happen. Except, it looks like those games may be ported to the Wii (one of them for sure is), so I'm getting around to selling the PS2 on eBay.

n64: launch
dreamcast: around september of '01 when my friend and i saw it only cost $100
gamecube: launch
xbox: about 2 years after launch
ps2: about 3 years after launch (got it for xmas a few months after i got xbox)
wii: launch
(will be getting a 360 probably mid to late '08)

basically nintendo at launch and then if any of the other systems are good enough for me to buy then i'll get them mid-generation.

I usually buy one within the first couple months of launch, then add the others as their price drops and their software moves to the discount bins and clearance end caps. I can't play the games fast enough to justify buying ALL of the hardware at full retail, plus the games at full retail too, and upgrade my computer to run Crysis too.

This generation is probably the worst its ever been, with so many great titles going to the DS, meaning there are four platforms to consider, not to mention the PC. I've probably played over 1000 hours of games this year, and didn't get to see half the stuff I wanted to play.

One of these companies needs to throw in the towel soon, 'cause I'm going broke.

IMHO, this has been the best hardware generation, maybe even best single year for gaming in well over 10 years ... maybe since we got everything from the great Genesis and SNES titles to the 3DO to Doom on the PC all in the period of late '93 to early '94. So much variety this gen that a person cannot own just one console right now, because each experience is so different and unique.

Last gen I brought my gamecube from Tokyo a few weeks before my dad moved back to England, that was a big mistake as I only ever had 4 games for it, all in a language I couldn't read.

But last gen I brought all three as they came out, which was a big mistake as I never played any of them.

Usually within a year of launch I've already received one or two as gifts/presents.

If not, I usually wait until a console has enough games I want to play on it before it warrants a buy.  Friends who own them are helpful that way.  If there are just two or three games I really want to play, I'll just play them at a friend's house and pass on buying the whole thing.

I usually buy them after the first price drop ,or the first one that puts it at what I perceive as good value for money .

I have done this always .With three exceptions that now come to mind :

Super Nes ;I bought it at launch here in Spain .It wasnt expensive and included Super Mario Bros ,already had a Megadrive but played a lot those days and Streetfighter II was a must have for me .

Game Cube :My Dreamcast was nearly dead already so I needed a console ,it appeared at a very attractive price and some of the games for the first few months as Resident Evil remake (the Cube appeared in Spain some 6 months after USA and Japan ) and Rogue Squadron appealed a lot to me.

Playstation 3:My Xbox and Cube suffered quick deaths and I found myself without console quite quickly .I had to buy one ,but the Wii simply is not for me and although I was more or less happy with the Xbox the sudden death and the online paying pushed me forward to the PS3 .Plus ,I wanted to play FF agains after missing FFX and FFXII .The PS3 just was the console for me .And as I didnt have any other working home console I rushed to get the PS3 even if the price was too high .

I bought my wii at spanish launch

I boutht a ps1 almost at the end of its gen.

They give me a ps2 two years after its launch

Diomedes, now i understand why you hate the wii, you bought the game cube and it sold nothing in Spain, 200k units, while the PS2 have sold 6000k units, the true is that i hardly ever saw games for gamecube here, so i understand you not buying a Nintendo console

I only bought my PSP on launchday actually . I also owned both a PS2 and PSone at the beginning of their generation , sold them and then bought both of the afther the new ones came out ... weird ...