*Thinks back to PS2 to PS3 transition*

Persona 3 and 4, God of War 2, Guitar Hero 3, Odin Sphere, Sakura Wars Yakuza 2, and various Anime, LEGO, and Sports games came out after the PS3 launch. Hell, Sakura Wars was a 2010 release!

You'll be getting 7th gen exclusives up through 2015 at least.

If I can convince my sons to hold out we won't have a PS4 for 18 months to 2 years after launch. At least one price drop is a must. But my son will be going to college in just over a year after launch, so I might have to cave and get a PS4 early so he can play it a bit before leaving home. He ain't taking PS4 with him that's for sure.

I'm actually making plans for my next house with an architect. Seems I'll have to consider a PS3 in a secondary room then...

This will be a long gen transition. Given development costs, publishers won't simple going to ignore a 140 million install base. I think we can expect cross gen games for at least 2 years, with some games staying exclusive to the PS360.