depends on many factors, but i'd say no.

Games today have a greater focus on a more cinematic hand holding experience (Uncharted 2/3, Mass Effect2/3) or just an experience as a whole(Child of Eden, Journey). As a film aficionado I can't complain, but as a game enthusiast I can see where people might perceive such a development mindset as detrimental to the industry. Though to be honest I'm enjoying games just as much as I did in the 90s as I am now. Granted games have lost a lot of that charm one derives from 'discovery' which was prevalent in a good majority of 90s games. Looking at the contrasting gameplay design between M64 and SMG is a good example.

Exactly this. Now is the best time for games. There are new ones but also everything else from the past and usually at ridiculously cheap prices. Heck you can play every nes/snes etc game ever made on your pc.

I would have to agree with Badgenome's statement! We can play all our old games digitally or (if the console is n't too old) you can use backwards compatibility! It is sort of the best of both worlds.
I also think that the GameCube era (PS2 and XBox) were one of the best, though this generation is looking to be really, really awesome!

From the perspective the OP has laid down, possibly. Old games are now accessible in ways that they have never been before, between console-bound services and groups like GOG on PC, and this links up with the strong current gaming production.

But then again that's more a function of the advance of technology rather than advances in game design philosophy, a philosophy which has some good points but some serious flaws in the modern day.

Considering Badgenome's statement, a resounding yes. Although current gen console games aren't as exciting as last gens I can't deny that the availability and variety (outside consoles) of games is at an all time high.

For example atm I'm playing Baldur's gate 2 on my old laptop after experiencing the excellent indie game To the moon. I'm playing The book of unwritten tales on pc (adventure games are not dead!) and SSX on ps3 while waiting for Journey.

Unexpected highlights from last year were Catherine, and Terraria. And the excellent HD conversion of Ico and SotC showed its artwork in a way the was previously not possible.

Plus now we have games on iPad, games on phones, facebook games, flash games, indie games, arcade games. The only thing lagging behind are the big console games that play it a bit too safe nowadays.

The thing about playing every game from the past is that it's not the same thing. We can't just recreate the gold times, unless we're very fond on them.

I for example played Guardian Heroes for the first time last year, and for all i heard about the game, all the hype i got over the years, all i can say about it is that it's alright.

But anyway, it is indeed. We have a lot more options these days, from retail games to downloadable, games with big budgets to indie games, and on top of that we can still play old games. And we have the internet, that allow us to go bat sh@t over video-games just so we can justify our buys. truly a time to remember, especially after the upcoming zombie apocalypse.

Terraria, how could I have missed that! There are some truly great Indie titles out for sale today, Terraria is certainly in my top 5 Indie titles of all time. The gameplay is often simple but the depth and entertainment factor often goes beyond ordinary games (Trine is another good example from this gen).

In regard to all that's happened during this generation of consoles, no. Corporate greed is stronger than ever, with all the DLC (abuse), DRM, and online passes, and games are becoming increasingly more streamlined and simple instead of actually having depth. I don't mind simpler games but it'd be nice to have something with depth, too.