Its no secret that he current generation is lagging in comparison to PC gaming technology and hence there is a lot of talk going about how the next generation of consoles are desperately needed to solved this problem.
However in an interesting interview with VG247, , id Software CEO Todd Hollenshead believes that extended console cycles are actually good for everyone.
I think extended console cycles are actually good for everyone. I think they’re good for consumers and good for developers. As much as a new console will excite everyone about its technical gee-wizardry, your worst economic period is often the very first year of a new console. Install bases aren’t there, you’re selling lower units of games, people are having to pay $600-$700 for a console as opposed to $200-$300. And the first games to come out are among the least technically compelling, because there’s just such a rush to get stuff out for launch. Those are the reasons in my mind.
Rage releases this September on the PS3, Xbox 360 and PC.