Red Superfly
You creepy little stalker
The backwards-compatibility thing may actually help show people that their games haven't really progressed any further than the Playstation in terms of design, scope, size and gameplay.
All just the same games, all over again, in sharper resolution. They won't be any bigger, or better. Games haven't really gotten any bigger with leap in technology, have they? That's because the resources needed to make the games is scaled along with the capabilities of the system. As consoles become more powerful, more techniques are used, times get bigger, everything is scaled, like any economy.
Nothing REALLY changes when graphics are the driving force. Advances in AI are potetntially the best thing about the next gen consoles, but I seriously doubt most companies will look beyond "gr4fix!!!!" as their main selling point. We'll see the same tired, played out mechanisms, control schemes, level designs and interaction, all in a higher resolution. One game every blue moon will come out and redefine how we design games. That was worth the £300 wasn't it? How many of these games would I happily trade for an old Game Boy and a copy of Tetris? Probably most of them, just like the current crop.
Personally, my faith lies with Nintendo. Make games fun again. I want my imagination to go into overdrive as much as when I played Super Mario Brothers on the NES 15 Christmases ago.
Unfortunately, people are immature, and kids are stupid. If it isn't realistic, 30,000 poly characters with normal mapping in a vast, sprawling, (yet devoid of life and spark) city with a cool car and SuperHiDef mip maps tessalting over 3 million quadratic equations, it ain't cool. It's absurd. Like I said, gaming has become about the technology, rather than the art of making a great GAME. If people could just take a step back, look in the mirror, and realise just how rediculous they must seem when they salivate over realistic-yet-empty video games and numbers on a tech sheet to see which one has the highest numbers, they'll realise how absurd and pathetic the majority of the video game industry has become.