I honestly do not think that the next wave of consoles will hit anytime soon. Why? First of all, as time goes on, improvements can be made with system updates and peripherals like Natal. Secondly, graphics can only go so far. How long will it take until we start actually controlling people in a video game?
Also, in this crappy economy, I don't think consumers are going to be running to the store to purchase a $500 product. This generation of gaming just has much more fight left in it; it won't end anytime soon. I personally think that we won't see the next wave hit until 2012-2014. I think that this generation can last for a good 10 years.
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