This is probably beating a dead horse but I'll be writing a long post here.
I would like to start by saying that this generation was not great, as last generation is probably something that cannot be topped in my eyes with the sheer quantity of great games that came out. Of those that stood out to me were SSBM, SA2B, The Jak & Daxter games, SSX, Star Wars Battlefront I and II, and the list goes on. That being said, this generation was still good.
Thanks to PSN, I can get retro style games that replicate the experience back in the day. Examples being Super Stardust HD, Soldner X 2, The Gundemonium Collection, Hard Corps: Uprising, Critter Crunch, Shatter, and the list goes on. If it wasn't for PSN I wouldn't own quite as many games, and wouldn't you know it, these games can offer a similar or better experience for the stuff that retails at $60.
Yes, graphics advancements are great, but it's the games that are the most important, and quite honestly, 90% of the retail games that have come out are utter, boring crap. In games like Infamous, I just run around the open world questing away with no real penalty for screwing up, even on the hardest difficulty. Why? Because there are so many checkpoints. Dying has virtually no effect on your progress. Just get back up and start murdering again. I don't need to be extra careful. I don't have limited lives or anything of the sort. There are no game over screens. You see, as an old school gamer I always felt rewarded for completing a worthwhile challenge, and while I acknowledge that challenge has not completely dissipated, it has become a lot more scarce.
As alluded to earlier, the dickery of companies has been dragging gaming down as a whole, from 100kb on the disk paid DLC to online passes to stupidly restrictive DRM. Companies will tell you that it's doing business. But it's not. It's simply avarice. It does nothing but poison the experience of the end user.
Most of us would have probably agreed that DLC was a good thing as it was being introduced. But it's safe to say we all didn't anticipate the scam age we were entering. It's unfortunate it had to be this way, because this factor has lost companies SO many sales from me it's almost absurd. For example, I love Castlevania. Castlevania: Harmony of Despair has come out on PSN. A demo finally came out (I like to try before I buy, as I've been far too disappointed on too many occasions by impulse buying), I liked it, so I go and check the add-ons, and they appeared to cost more than the game. You know, if I want to buy something, I want the meat and potatoes and the side item all in one, hearty portion. I don't want to add on the potatoes and side item for a couple of extra dollars each. That said, I didn't buy the game, but I'll definitely reconsider if they bundle everything together. There are some exceptions though, like Disgaea 4 because once you become OP, the DLC is basically worthless as you'll max out those guys in no time.
One last thing because I'm tired. I didn't see anyone allude to this (or maybe I'm just dumb), but the cost of game development is absolutely ludicrous. Thanks to the exorbitant costs, more and more studios are closing. You need to sell more copies then ever in order to turn a profit. The best thing that we can hope for in the future is that these costs somehow go down, then, the developer has more money to make games, quality games could come out at a faster rate, and the consumer has more money to spend on games, because they could possibly be cheaper. The cost is the biggest factor for me in the future, because that is what allows developers to take risks in the industry. We all know this, one bomba = lots of lost dollars, lots of lost jobs, and lots of disappointment on both parties.
Note that I'm not condemning this generation as a whole. I had lots of fun with it and continue to do so with this day. I'm hoping, and it's probably a stretch, that all the downs I mentioned fix themselves in the near future, in order to provide a much better experience to the developer and the gamer.
Thank you.