Alan Youngblood @ Gamasutra: "Video games have come a heck of a long way over the years. From the days of 2D 8-bit to the days of 3D @ 1080p. Technologically, artistically and interactively they have increased at exponential rates. Until now.
Don't get me wrong, I still believe in Moore's law. We will still continue to progress technologically and be able to process more polygons to gaming shreds, and growth should continue there. However, I think that video games have reached a plateau now.
We are approaching the point at which better graphics can only be perceived by people if advertising tells them it is better. Again, don't get me wrong, I think there are some phenomenal new games with great graphics but it's getting to the point where there are less quantum leaps at least in the perception of the average person. There's no more "Holy crap that's awesome" effect like the progress made in the 80's and 90's. Take the Halo series, great games, but look at Halo and then look at Halo 3, has much really changed? Maybe, but it's certainly not enough to justify the huge increase in work hours to make it and the limited increase of amazement by the average gamer."