I think what's interesting also is that even if we are hardcore gamers on a forum like this, many of us won't by a next gen console on release. Usually the launch lineup is weak and gamers simply can wait a bit for that killer app.

So I think many of us won't buy a new system until 6-12 months into the next gen.

That means we are fine with current gen gaming for another 2-2½ years (if next gen releases in Nov 2013, which it will).

It's over for me. I won't be playing any games on the 7th gen. Soon, the Wii U will be the new companion to my gaming PC.

I might... might... play the 360 again for Halo 4. But those controls.. *shudders* ... those controls... oh god... *goes back to playing with mouse and keyboard*

It's not over until Sony says so.

Well it's really only been 6 1/2 years since the 360 launched, not quite "almost 8"...but I wouldn't say so. For me GTAV will probably be the swan song of this gen, and also Fallout 4 if it's this gen and not a next gen game.

I got my HD console in 09. So i am still good for 2-3 years. Ummkay.

Almost.

They gens aren't automatically over when the next gen console releases. The PS3 and 360 will still be alive and kicking at least a year after the WiiU releases. After all the three consoles are replaced then it will be effectively over.

I don't think it's over yet. When all three next generation consoles have been released then maybe I would consider the 7th gen to be over. However, the two gens may co-exist for a year or two after the fact.

I consider a console's cycle to be over once games stop getting regular development. Is this generation over? Naw. Still plenty to play at the end of the day. Sony and MS already have big plans for 2013 and they aren't new consoles.

My question is why are consoles still so expensive?! The Xbox 360 250GB with Kinect is $399!!!! What the flip!!! It's a 7 year old console! The Xbox 360 with a 250GB hard drive should be like $149 + Kinect $249! I am sure manufacturing costs are low enough to still be profitable. The PS3 is $299, which was the PS1 and PS2's launch price.  Should be $199 by now, but then Sony has a pretty good excuse (higher manufacturing costs), but still.

This generation still doesn't have much to offer really, and I am ready for new consoles!

Nope, between PC and PS3 (and soon Vita) I am currently gaming more than ever before. My backlog is ridiculous, I had to cut myself off until I finish some stuff. (Around 20 games backlogged)