So recently there have been quite a bit of rumors going around, since the announcement of WiiU at this years E3 that Microsoft and Sony are beginning they're research and development cycle for new console models, personally I'm not the one to jump into conclusions but I'm quite intrigued by this 'rumor', I think that many people including myself are still very happy with the ones that are out right now and truthfully you can still do a lot more with them (graphically).
But truth be told at the speed technology is growing and with the bigger demand for 'photo realistic' games, game developers are forced to come out and upgrade their game engines so the audience wouldn't get weary of their games, it is only matter of time wouldn't you say? It's not like Microsoft or Sony gave us the option to upgrade our consoles' graphics cards to support new technology for new games like you can with a PC. So the points of this thread being, what do you think? What is your opinion on this? Is it time to upgrade or is it still too early?