I would like the community to know that making this list was not easy. This top 10 list reflects the taste of the community, I have incorporated Game collections and posting history of the community into my findings and can proudly unveil The Top 10 Most influential Games of this Generation as voted by you. (Through you game collection and posting history)
I also analysed the game collection of critics aka moderators. I particularly analysed the game collections of RPG historian BengaBenga and Gaming Analyst Crazzyman.
The Top 10 Most Influential Games of this Generation are:
10. Gears of war!

The Game that left gamers speechless. The community has shown great respect towards Gears of war, Gears of war is an oustanding shooter.
9. Littlebigplanet

The Game that brought the community together, the game that took creation and platforming to the next level!
8. Mario Kart Wii

Vgchartz favourite racing game is Mario Kart Wii. This game is played by racing legends Cougarman, Amp316 and Rolstoppable. The racing game that never ends!
7. Halo 3

The game that broke records and left the competition in it's wake. Halo 3 is bread and butter of the X360 and rightfully so, the game delivers and than delivers and delivers again. Finish the fight!
6. Call of duty 4

The game that took shooters to a whole another level, when it comes to shooters Ifinity Ward is top dog. This game probably has the best multiplayer package EVER!
5. Zelda Twilight Princess

A true quality game that must be experienced by all gamers. One of the most own games for the Wii and this Generation!
4. Mass Effect

Every 360 owner has praised this game and rightfully so, this game is truly outstanding. Everyone is currently awaiting the next chapter in the fantastic series.
3. Uncharted Drakes Fortune

This game is one of the best adventure game ever, it has everything you want in a game. Blending Gears of war with Tomb raider and managing to take it even further. This game is a must for any gamer and every ps3 owner should have this game in their collection
2. Super Mario Galaxy

The Game that put Mario back on the map, this game is much loved by the Nintendo community and understandably so this game is up their with the greatest of games!
The Most Influential Game of all time voted by you through your game collection and posting history.

Metal Gear solid 4 is game that dominates nearly every game collection on VGchartz, it's been the game on every gamers mind, the game that dominates the Gaming forums. The highest ranked game of this Gen on VGC best games of all time, no other game this Gen will eclipse Metal Gear solid 4. Mgs4 took Gaming to a whole another level, rest in peace snake.
For those who are unhappy with this list please update your game collection
I dedicate this thread to Gaming Historians:
Sony Leader out 
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