Interesting article re: the shift in consumers from gaming handhelds and consoles to mobile Apps and social games.   

http://www.minyanville.com/businessmarkets/articles/video-gaming-industry-video-gamers-video/9/23/2011/id/37031?page=2

I know that this is true for me.  I won't be getting either a 3DS nor Vita because the free Apps (Angry Birds, etc.) on my Android phone are quite sufficient to ply away the time in transit.  They're free and fun.  What more do I need?

While I'm sure Social gaming (vastly increasing) must be cutting into console gaming (slowly decreasing), I don't think it's as direct a threat as cloud gaming like OnLive.   I don't buy movies anymore because I prefer to stream them over Netflix (which is infinitely cheaper).  I could see many people doing the same with games.

What do you think? Is this holiday season's the end of the era of console gaming?

No way, I am sorry but I prefer the feel of getting a gaming console and opening the case of a new game. Social Network gaming will never take over, I got bored with it after a couple of days. I guess cloud gaming could take over when it becomes simple to use, otherwise it's the gaming equivalent of Linux.

Definitely not!

I don`t believe it will.
Can you imagine what the next COD, Mario, Halo, Uncharted, etc., will play like next generation? Or what the next big thing will be? Last generation it was GTA; this generation it was COD for the core and Wii Sport, Nintendogs, Brain Training, etc., for the casual. Who knows what will come next year or in two years.

About this generation sales numbers, after this Christmas it will surpass PS2/GC/XBox/DC. I don`t see that as a bad sign.

I agree that gaming in other portable devices besides handhelds is increasing. Of course it is: it`s a brand new market, it`s a way bigger market than handhelds. The games costing less time and money to produce (my opinion) make them flourish. According to Edge (http://www.next-gen.biz/news/app-store-now-houses-over-21000-games) there are over 21000 games just on App store... 21000 games!
How long can this market sustain itself growing so rapidly?
It`s a pretty atractive market, but it`s becoming a red ocean. Even if the current handheld market and console market is a red ocean there`s still space for companies to be successful in the long run.

All these comparisons are being made between two sides of an industry that so far don`t seem equal. By their own nature consoles and handhelds don´t change as fast as smartphones and tablets so its cycles are slower and longer.

No way >_>

you'll have to replace the hardcore gamer first.