We're in the middle of a mistake. Games are abandoning local multiplayer in favor of online experiences, whereas most people I know prefer to play action games while sitting next to each other. Xbox Live, PSN and WFC are no substitute for the facial exchanges and rib poking fun you get from being present with the people you are playing with.
Split screen multiplayer is a prime example. Currently it's old hat, an absurd idea we consign to the annals of gaming history with GoldenEye, TimeSplitters and Perfect Dark. But this won't last. In an industry driven by the two pillars of creative ideas and consumer spending, game makers will realize that the concept of shooting the person next to you on the couch will always be a big win.