This is really negative both for the console market, and the PC market. Games are developed across systems now, and the priority is always to develop for the xbox360, then the PS3 and finally the PC, if the consoles don't progress then PC gaming wont progress either.
This means less investment from companies like Nvidia and AMD/ATi in developing new graphic hardware, they wont develop unless there will be significant sales, and nothing coming out in the gaming side is pushing current cards, hence no need to upgrade your machine, hence no new development.
And to those of you who state that Console gaming is easier and cheaper really do need to wake up, console gaming is far more expensive over the lifetime of a console, each console game released is on average $20 more expensive the the PC equivalent, so if you buy 1 game per month, over the period you have your console (currently 5 years with a 360) 12 x $20 ==$240 per year, over 5 years that is $1,200 the is the extra a single gamer who only buys 1 game per month pays extra for his gaming privilege, i could build and unpgrade my pc lots with that money, then add the cost of your console, your HDTV your annual subscription just to play online, the console is NOT good value for money, but hey you guys be happy believing the hype MS & Sony feed you