Given that the consoles are all much more powerful then the previous generation, do you think that companies are coming out with enough new IP and new games with new directions?  Every since Halo 3 I've felt that this generation is going into sequel-itis...

MGS4, GTA IV, Socom Confrontation, Soul Calibur IV, Tekken 6, Valkryia Chronicles, Resident Evil 5, Mario whatever, Zelda whatever, etc.  Why don't companies build new ideas rather then rehashing the old ones so much?  There has been some new stuff in Mass Effect, Gears, Resistance, Viva Pinata, LittleBigPlanet, Warhawk, Unchartered, etc.  but is it really enough or are companies just milking our attachment to past franchises?

What's Valkyria Chronicles doing in the section of sequels?

Personally I think there are plenty of new IP's, adding to your list off the top of my head I can think of Motorstorm, Rockband, Assassin's Creed. Really I don't think the ratio of sequel to new IP is that much different to any other generation.

And to continue on with Torillian... with Xboxlive, Wiiware and PSN going at it we can expect even more new Ip's perhaps then in the NES days.

Wii Sports, Wii Play, Wii Fit, Wii Music
Little Big Planet
Rock Band
Red Steel (the first had some awesome aspects and some rubbish aspects, hopefully Red Steel 2 will be awesome)
All sorts of cool Wii games - Kororinpa and Elebits should hopefully both have sequels

Last gen had
Pikmin
Eternal Darkness
Nothing else I care about

For me, this gen is awesome

I think there's enough.. even so-hated EA got its new IP's: Rock Band, skate / skate it, MySims (well, they took the Animal Crossing approach, I think it could be counted as new), Army of Two, Spore, etc. and of course, it's natural that they will get their sequels, like MySims and skate were already anounced. 

and when you have an estabilished (if not unrivalled) franchise, there's no point in abandoning it..

 Warhawk was a PS1 game

I don't know about other consoles, but many of the PS3's high profile games have been new IPs: Resistance, Uncharted, Lair, Heavenly Sword, Haze, Eye of Judgment (Not high profile), Little Big Planet.

Is Unchartered the game where a rich guy has to fly in a public commercial aircraft instead of a chartered flight? ;)

enough IP's? only thing I know for sure is that there sure aren't enough JRPGs these days..

When you're dealing with huge titles like Metal Gear, The Legend of Zelda, Halo, Mario, Grand Theft Auto and so on, I don't think that it is that bad to produce one (or two) sequels in a generation; more than that is really pushing it in my opinion. Where I think sequels become a really bad thing is in games that have been run into the ground and the only thing that is selling the game anymore is the vague memory of good games; games like Turok and most Sonic games fall into this category.

there are plenty of new ip's, GeOW, Resistance, Uncharted, Haze and Wii to mention a few!

Do you really want sequels to go away though, causing your favorite franchises to disappear? I think a good flow of new games are coming in no doubt. The only problem with sequels is when they get milked to death and decrease in quality (MegaMan).