I stick with PS4 enjoying a 6-7 year life before a successor comes along. Hard to say where we'll be in 2020, but I think still a bit early to go full on streaming for home console gaming.

You guys do realize that if sony focuses on PS Now cloud gaming, they could launch the "new generation" right on the ps4?

They would likely have a refresh with dual or tri antennas for redundacy, and release a next gen vita with matching tri antennas for improved remote play and ps now. Who needs the PS5 when you can play next gen games on a 75 ps4?

Ps4 will last like the ps3

PS5 will probably be out by 2020 or 2021 and not earlier. For the games to run properly, it can't solely depend on the cloud. What will happen to hardware 5 years from now? That we'll have to see. I doubt it'll catch up to PC, that's for sure.

no PS5 - PS4 will live long and be the last - things will change very much in the next 4 years!

I want it to be full backwards compatible.

cloud streaming (aka psnow) is not the same as cloud processing.  for really heavy tasks like games a service like psnow could be amazing for cutting edge games.  games like uncharted 4 have to fix within the limitations of the local hardware which is always limited by the consumers price tolarance (no more than $400 apparently).  in the cloud uncharted 4 could have nearly limitless processing power at it's disposal.  there would of course still be cost based considerations but a cutting edge game would have the option to increase it's availible resources if that's what the developer wanted/needed.

OT - ps5 won't even have a whisper of a substantial rumor until 2018.

Obviously you haven't heard!
Pachter already told us it's the last gen.

Points to Netflix and how it's basically killing TV.

How would it not be a good idea for them? A lower barrier to entry for consumers and higher profit margins for Sony AND third parties.

While I agree, NX will also last in perpetuity. It'll be the last, but it will last a long time.

I mean, there will likely be "consoles" in the form of, like, a "PS Now TV" streaming box for people without Smart TVs in 2020 and an "Xbox Live Machine" for people who aren't into Xbox PCs, but not traditional generational console's like we're seeing now. Nintendo will have it's NX "smart console," MS will have its XBL "Live Machines," and Sony will have it's PSN "Netflix for games," and it will be glorious.

Might geniunely be the first time I decide to have all three. The NX as my "console," PS Now on my Smart TV, and XBL on my...

Wait, I own a Mac...

I'll figure that last part out later. Can't betray father Apple, but also don't want another console box... Maybe they'll release XBL on Mac? (Probably not...)