Can someone post an article or something on what this generation's consoles that matters in the big picture?  Is it simply a matter of hitting 60 frames per second in 1080p across ore games?  Or is there other essential things missing that next generation is supposed to address?

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Nothing is "missing", it's just the graphics could use some improvements.

Yeah graphics are still far from video-realistic. That Crisis shot by Jay looks great now but in motion a 5 year old within seconds could tell which was real and which was rendered. Only a fool thinks graphics can't get better or that they're "good enough."

Consider me that fool. Graphics are fine the way they are, and have been for some time.

There's a reason why so many games from SNES, N64, and PS1 keep popping up on top ten lists. Hint: it's not all about the graphics.

To be honest I don't want video games to be video-realistic. I enjoy amazing graphics but I still want them to have that "video game" look to it. Just take a look at these 2 videos. I know these are mods but I wouldn't be surprised if something similar to this will be available on next gen consoles (Similar, not identical!)

Yuck. Also don't confuse video-realistic with "looks like real life." Avatar is pretty close to video-realistic but it is completely alien. Games can look much better yet still retain their artistic look. See check out Toy Story 1 verse Toy Story 3.

The same basic look is retained yet the new one looks a lot better. Oh and Toy Story 3 is strangely pretty close to being video-realistic.

I wouldn't look at the graphics of current consoles as what needs to improve. But rather the size/scope of games.

I guess what I'm saying is that it's not the graphics comparision of Crysis 3 on PC vs current Consoles. But the size of BF3 on PC (64) compared to current Consoles (24). That's what I expect the next Consoles to do. Allow developers to create much bigger games I guess. Not sure how to explain it lol

So, what would you not get if the game in question on the current technology were MMOs?  Sony has the likes of Free Realm on the PS3, and that is fairly large.  What I would have to ask is: Why wouldn't developers who want larger games, not stick them in MMO format?  And also, is the likes of Skyrim too small?