Those games performed poorly because of games they were, not because of hardware.

i'm ready for new hardware already. the sooner the better. ./TakeMyMoney.gif

If developers have not been able to tap the full potential of those consoles after more than 6 years, it is either not there or so difficult as to not be worth it.

New generations have never really been all about more power anyway.  It is all about combating consumer disinterest.  New games and price drops on hardware can only do so much.  Eventually people move on to other forms of entertainment.

Nothing reinvigorates the industry like new hardware.

There is not. Uncharted 3 and Halo 4 squeezed the last bit out of the consoles.

Yeah I want new consoles! A PS4 release sometime in next years November would be perfect. Also would close the PS3 with a Bang with releases like GOW:Asencions,Last of Us,Nino Kuni,Sly:Thives of time and beyond two soules which would be a awesome ending before the PS4 releases :).

I seriously don't get why people keep saying there's still so much power left to tap into the current gen consoles--especially the 360, which is over seven years old and doesn't have the complicated internals of the PS3. And frankly, I don't think there's much left to tap into on the PS3 either.

None of the footage for upcoming games on either console suggests that there's still some vast hidden trove of processing or graphical power that devs have yet to unleash. And even if there was, it's not like that alone would help fix flagging console sales anyway. Next gen consoles won't be a huge leap as it is.