While I'm totally satisfied with the capabilities of the PS3 and 360, I'd buy a new console from Microsoft or Sony, too. Thing is, even now, after over half a decade, the PS3 and 360 STILL aren't profitable for lots of companies involved. Development costs still outweigh profits and often "sure things" end up as failures. Launching a console is always an expensive endeavor and even Nintendo is selling for a loss, now. I don't think it's good business launching a console now.

And I still don't think Sony will launch a PS4 until 2015. Quote me on this.

Sony and MS would be happy to delay the new consoles more, since they are definetely making good money selling hardware now.

But then you have to think about what the Third Party developers want, and software sales are down this year by a good margin.

yeah, about it being overrated. that didn't get very far, too many Halo fans in here I guess.

Yeah, but i'm sure there is an equal number of 3rd parties that can't afford to dev. for a new console, and would love their crack again at PS360, when sales are not being gimped by PS720. Only graphicwhores at people like Cryteck or id, and many US developers are asking for more power IMO, but what about developer in Europe or Japan, which I think are more than ggappy with the current consoles.

Ultimately I think that it is more attractive for 3rd parties to make games for an old console with 70m users than it is to make games for new console with just 3 - 5m.

Well the new consoles will come out and the current consoles will take a price drop. Those consoles like the PS3 or the PSP will still be on the market, But the premium consoles will be there slowly phasing them out.

New IPs thrive on new hardware. That's the only reason I can think of. Everybody has that one breakout hit in mind and they want to release it to a less cluttered field.

Lets see, because thats where all of their core studios development has been focused for the past two years, which is the obvious cause of the gaming drought for the past two years on the 360. E32013, mark my words. Microsoft doesnt want to launch a new IP late in the gen, they would rather it be in the beginning and then cut off support as the gen winds down. They aren't full on like Sony having exclusives all year. One would think people noticed this after the first Xbox. They will launch a couple of exclusives, then when the games cant sell the console they'll finish up on the new Kinect and let that hold them over again.

Announcement at E3 2013 (or TGS 2013 for PS4) and actual release the 3rd or 4th quarter 2014 to build the hype and give time to developers to make games for the new platforms. Also the new components (CPU+GPU) will be cheaper. 2013 will be the year of PS3, with plenty of great exclusives to come out. No need to hurry for Sony. Maybe for MS, but this time it may end up like the Wii U. the technological gap is not that high. And this is the time to milk out the old consoles.

Just a guess. Analysts know better!

As many has said market fatigue is setting in. Only established IPs are selling well and if you don't have a good selling IP you are not making money so you go else where to look. With the "boom" of so many manufactures trying to get a foot in the gaming market with their multi-use devices they should of had their new console out last year. Now not only will they have to deal with Nintendo if they manage to get a good head start. But also these new devices that will look more appealing because it is the "next big thing" and consoles are so last gen. And with software makers looking for new places to make money the last thing you want them to do is get a taste of some different that may bring them more money then they did with consoles.

Haha the part with Gears,Gears,Gears is awesome
But that won't change with a new Xbox - 3 IPs for the next 8 years.Thats the plan of Microsoft cause it worked the whole Gen and will always work.

Sony well yeah...They would maybe take the wind out of their NEW ULTRA IPs but some PS2 Games that came that late managed to sell too.Not everyone is buying a new console instantly.

But bringing them will make the people aware of them.
They get more and more interested if they see them in the shops.And in the meantime they can show a lot new IPs(Sony) to get the people even more interested.They don't have to hide anything anymore.