With the major announcement of OnLive, a gaming service that allows anyone to play any game on a TV, PC or Mac, speculation that major game consoles are finished has begun. It's a bit premature, since the OnLive external beta hasn't even begun and the service itself isn't launching commercially until 2009, but still. Everyone lives to gossip about a potentially revolutionary new product.
The thing is, even if OnLive is the second coming that many gaming and technological outfits are making it out to be, it still isn't going to be a console killer. The new service will likely coexist peacefully with the current systems and find its own niche (possibly in hotels, teen centers or dentists' offices), rather than completely overrunning the industry.