Well, good thing this is completely down to opinion. I for one, can't compare easily with previous generations, because I was never that much into console gaming before this gen. So my family never bought any "must buy" games, and I was also younger, and more easily satisfied with games
But I still think this gen kicks ass. Valkyria Chronicles has some of my favorite strategy gameplay ever, I have clocked in 40+ hours in Burnout Paradise without ever going online, I have laughed with all my friends when playing LittleBigPlanet, Call of Duty 4 has one of the best singleplayer campaigns ever and Metal Gear Solid 4 was probably the most epic game ever for me.
I could go on, but I think I made my point