This was really interesting to see. Seems like there's almost a 50/50 split between the people saying "yes" (the first two answers) and people saying "only this generation".
The reason I was asking was because I was wondering whether the console online gaming revolution came slightly too early, with internet speeds unable to keep up. Certainly, that was one of my reasons. But it seems that most people managed to get around this, certain people going as far as to hook up a gamecube to play PSO. Conversely, some people with Xbox's and Halo 2 didn't connect to XBL at all!
Really interesting to read all your replies anyway, keep 'em coming :)