I didn't buy a next-gen (or rather, "current-gen" would be a better term) console. I barely played the PS2 at all, and have only a few games for it. I use my PSP mainly for emulation purposes. I haven't bought a game in a long time, and play only about one hour a week.
To me, the pinnacle of video games was the period between 1993-1997, and I'm talking almost exclusively about games on the PC there. The PSX generation was also amazing, but to me, nothing can really beat Quake, Tyrian, Sim City 2000, the Crusader games, the Warcraft games, the Tomb Raider games, Jazz Jackrabbit, Lemmings, Doom, Hexen, The Settlers, and many other lesser-known gems. And no community will ever engage me as much as the Quake scene has done with its countless dedicated servers, levels, mods, total conversions, scripts, programs, gadgets and gizmos.
It sounds kind of stupid, but to me, the time has come and gone, and I doubt it'll ever come back.