The State of The Next-Gen Video Game Console

With the release Monday of Wii Fit, the exercise game that some video game analysts have predicted could become one of the best-selling titles of all time, it was Nintendo's turn to dominate headlines related to the so-called next generation of consoles.

The "next-gen" era began in November 2005 when Microsoft launched its Xbox 360 and then really kicked into gear a year later when Sony and Nintendo pulled back the wraps on the PlayStation 3 and Wii, respectively.

Sony's PlayStation 3 was expected to be the next-gen winner, especially with a built-in Blu-ray player and incredible graphics courtesy of its Cell processor. Yet, the PS3 is generally seen as next-gen's loser, due to high prices, the resulting lackluster sales, and the perception of a paucity of killer games for the platform.