No, but I'd gladly pay $250 (plus inflation) every six or seven years.

 This pretty much sums up my thoughts.

I think IT IS the last generation where it matters

the next console will be completely enought powerfull the give us realistic gfx

(to say the truth i believe PS360 can already do it)

this will NEVER happen.... and let me tell you why, we are cattle, pure and simple, and whenever any industry puts in a new trough we are herded to it eat and gorge ourselves like the mindless beast that is the public....

Graphically, I think we're at the point of diminishing returns. After, say, the next generation of systems, it'll be hard to tell the difference between a screenshot and a picture.

In motion, however, will be a different story. The uncanny valley is a scary place--who knows how long it will take before a character's actions, words, feelings, etc. make us feel like we're in a living, breathing place?

When games look 4x better than Crysis and running NATIVE 1080p 60 fps then it will be enough,dont forget a PPU installed.

I think the examples you wrote is why this generation is going to last longer then the standard we are used to. I think we'll see Microsoft bring out a new console christmas 2013 and Sony to follow in 2014, technology just isn't advancing at the rate it has in recent history.

Equally, on one wants new consoles. Microsoft are waiting for a return from the Xbox, PS3 has dug a huge hole in Sony and developers and publishers alike are still waiting for the PS360 to really be the money makers they will be once costs are at where they should.

I'm not convinced graphics are going to go much further any time soon, it's becoming more and more nishe and with what the Wii's done, nowhere near as important. If there was only one console in the hardcore market HD type competition I think we'd see either Sony or Microsoft go down that route, with Nintendo catering to the mass market. As long as there are two competitors in the HD arena though, I can't see it happening.

Man that's a long rant for a simple question! (but not bad, just don't have the time to read it at the moment)

Short answer: not long
Longer answers: not long but we'll still improvements because people always want something newer and companies will always want to sell you more accessories.

Companies want you to keep buying their products. This will never happen.

I think that there will always be a significant number of gamers who are willing to shell out $400-$600 for any new system. This generation has proven what the masses want but I think there will always be people really into games or just tech in general that will buy these new systems even without the leaps and bounds you speak of.