The games are still being displayed on the same screens at the same resolution. The current gen of old consoles are so far behind current GPU technology that they would need to play catch-up, I would think.
I dunno man, Ps2 -> PS3 leapfrogged current PC tech (at the time) by a decent amount. throw in the fact that consoles can be heavily optimized, going to take a lot more PC processing power to get the same stuff done.
I definitely think theres going to be a jump when the new consoles come out. Think 2006 when xbox and ps3 were coming out and all the sudden there was new graphics cards like crazy, Conroe had just come out, the AMD x2 series was out, I felt like I was buying new tech every week.
Since the consoles are getting dated, weve seen everything stagnate a bit (there was a thread in the CPU forum about people not wanting to upgrade anymore cause they didnt see a need...a lot of people agreed). I wonder if that is going to change with the new consoles.
Sure, the display res isnt increasing from 480i to 1080p, but I wonder if the new gen will have things like physics, draw dist, etc. that come to light.
Hell, were still a ways off from the things that Pixar and co. is doing, so the tech is definitely there to draw better graphics.