While the video game industry has its share of problems, complacency is not one of them. Innovations roll out at a staggering pace—which is part of the reason gaming can be such an expensive hobby.

Generally, the life cycle of a game console goes something like this: After a splashy launch, the system will spend roughly five years in the spotlight, followed by another three to five years living in the shadow of the next generation. But for the Xbox 360, PlayStation 3 and Wii, the spotlight will keep shining for the next several years.

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