Staying IT, I have some fears for next generation (PS4 and 720), or at least for their launches, for several reasons.
First, the prices. PS4 will probably be priced at 449.99, that is the only price possible to accomodate both manufacturing + fixed costs and the market for what it is possible, since it's a very powerful console, and it has a good social offering, while 720 should be 399.99, and that should be a good price again. But the problem is that 399/449 are high prices for the mass market, and since both the consoles will be sold under costs, it won't be easy for both companies to lower the prices (and certainly Sony can't lower prices too much given its situation as a whole, even if yen could be an advantage for this, if the exchange rates current trend don't change suddenly). But it's not just the consoles' prices: EA stated that games could be priced at 69.99 at the beginning of the gen. Seriously, how many people will spend 460, if not over 500$ for a console and a game? Especially if...
The big third party games: we're already seeing this with PS4, and it's very likely to see that 720 will see it too...most of the titles coming at launch for PS4 and 720 will be cross gen, with versions for also PS3 and 360. Not that those games won't sell at all on the next gen consoles at launch, because better graphics can be an attraction, but it can't be the only attraction, otherwise no one saw what happened when Wii launched. And what I'm saying here has a much bigger importance for titles like COD, Madden and FIFA, titles that have heavy online components, and something that wasn't present in the past: online communities, that are very big and built on PS3 & 360. Especially considering EA said there won't be cross gen online communities, how many people is going to spend that amount of money just to play FIFA / COD with prettier graphics but with a very little online community, without the people you usually play with? They can't and won't be hardware and audience drivers at launch. And above all, it's not that implausible that we'll see cross gen big third party titles for still quite some time, because PS3 and 360 are still selling and have very big installed bases, while PS4 and 720 won't have that for physical reasons. If next gen consoles will sell well, I can see second half of 2014 being when cross gen titles' amount will see a pretty sensible reduction; otherwise, it'll happen in 2015.
The first party games: just talking about PS4, since we don't know what MS is preparing for when 720 will be out. So far, we know that Killzone and Drive Club will be at launch. It's no secret that Killzone isn't such a big seller, but it's not properly a bad choice for a launch, and Drive Club is what I'd actually consider a VERY good software launch, because it's what I'd consider a bridge title, both core (racing and orgasming on cars' engines =P) and casual (teaming with other users wherever you are) gamers can be interested. It's a new IP, so it's not a sure success, but it's also true that launch is a great time for giving spotlight to brand new IPs, so I don't count it out yet. IMHO, a perfect launch retail first party wise would be with three titles: one appealing to the core fanbase (i.e. brand new IP or a not top IP, but still pretty known IP), one appealing casual and one being one of the top IPs, appealing to both categories (best example ever: not a 2D Mario, but a 3D Mario, that at this point we can consider a far better title for a launch). So far, PS4 has a core title (Killzone) and a core and casual title (Drive Club) that doesn't follow this rule since it's a brand new title, let's see what else Sony can release on the console at launch. So far, it's not bad, but the possible launch price is still a barrier (especially for games...69.99 is just too much)
Challenges from other actors: Entertainment is so different compared to many years ago, there are now way too many alternatives. Not just tablets and smartphones, but Facebook, Twitter, Netflix...all other ways for people to have fun, and all quite a lot cheaper than gaming, especially with next gen consoles launching at 399.99$. And obviously, iOS and Android gaming, that is so cheap. Especially compared to 69.99.
Stupid choices from hardware houses: Now, PS4 seems it's avoiding the giant bullshits we're hearing, but, in the same way, it's becoming more and more possible the next Microsoft console will really block used games and need to be always connected. If that happens, 720 will be the N64-2: a platform that can sell well just in America, while in both Japan and Europe it will fall flat. Those two things are anti-consumers choices that would be applied in an era where retail is still too important for console gaming: it's not like it was for PC gaming, where retail was almost irrilevant when Steam came out, and so PC market literally resurrected and it's expanding right now thanks to this generation lasting so much. Steam can go without used games because there are giant deals almost every day, also thanks to actual challengers like GMG. On consoles, instead, there's nothing like this: digital sales still account for 10% of total sales (and that's being generous), so it's impossible to see retail titles being so discounted on Sony / MS services. At least, free Sony / MS services, looking at Plus. So, no used games would be "balanced" by having games costing much less, but looking at the biggest SH involved, that's impossible, unfortunately.
I'm expecting both next gen consoles having slow debuts and slow first months (not as slow as Wii U, though, otherwise we're seriously fuc*ed :lol ), then the first Holiday after launch will come and in that occasion there will be the first real test for both consoles.