The looks of Battlefield 3 on my PC say yes!

I think the most important thing is that they do deliver another graphical leap, but avoid the cost leap that has caused so many issues this generation. However, I do fear that the console market is on a permanent decline as casual gamers inexplicably turn to iPads instead of decent gaming devices

Do we need it? No. We don't need much except for food and water. But do we want, this is a whole other question. In my eyes, absolutely.

No and No

i remember my friend pointing to mario 64 and saying gameplay has been perfected and the graphics are soo good who could want for more.

...i'm excited for next gen.

you only think you don't because you don't yet know what new innovations will come that require a new gen.

Is a No and No for me. The graphical level reached this generation is good enough for me, and we still can get great games with this level. Even if they release the PS4 in 2013 I will not be buying for at least 3 years so I can live with the current one at least till 2016. Now if they do something original and change something besides the graphics maybe I can be interested on it day one.

No and later.

That is actually an interesting debate. I agree with you that they need to bring something diferentiating to the table to avoid the same kind of disaster that the Vita was.

But, whats interesting about the home console market is that it isnt beeing replaced by another market like the portable gaming market. Sony can actually achieve that differentiation by not changing anything aslong as Microsoft launches with kinect and Sony promoted their system as the real gaming device (aka for hardcores). In the world of marketing, if you can get your message across, half the work is done. It has to be a good message though. ;)

the current generation has stagnated and a new console generation is over due. 7 or 8 years is a long wait.

For me, simply "no". I still have a lot of games to play this gen, next year I'll have a lot of thing to keep me busy (Last of Us, GOW Ascension, Puppeteer, etc). I would like to simply grab a Vita for Tearway and keep my PS3 for now.

There are two sides to this question ...

1) Does Sony need to release a dramatically more powerful system to drive quality game experiences?
2) Does Sony need to release another console in the near future?

The answer to #1 is no, and the answer to #2 is yes.

The PS3 has run its course, its sales are declining, and most of what developers are going to do with the system has already been done. With Nintendo and (probably) Microsoft releasing new consoles the industry will move onto what they have produced and within 24 months the PS3 will be almost dead. Sony needs to release a new system that drives new game experiences ...

With that said, their next system doesn't have to be defined by raw processing power. By improving the user interface, creating new online services for games, or making a system that is viable for 6 player local gameplay, Sony could release something that seems fresh that is not dramatically more powerful than the PS3. They (probably) can't do this for the PS3 because add-ons are unlikely to be well supported and no one pays close attention to software updates for a system.