Well, if we look at actual golden ages in other popular media, we can pick out many characteristics:
Endless amounts of copying. In comic books, we have the classic characters like Superman, Batman, Wonder woman, but then we also have imitations to those characters. Anyone heard of Judy of the Jungle, American Eagle, Pyroman, Ibis the Invincible, Blue Beetle? Well, the last one for sure, but the others? Basically, for every memorable character, there were a dozen pretenders. In this era, every MMo tries to be World of Warcraft, every FPS wants to be Halo, every rpg owes something to Final Fantasy VII, every action game tries to copy God of War in some way.
On second thought, I would think this is Silver Age of video games. The consensus among comic book gee-erm "historians" is that the Silver age of Comics started with a recasting of the Flash. There was also an updated version of Green Lantern, The Atom, and Hawkman, and we are currently in the era of taking old characters and bringing them up to the current generation. Some characters made the transition smoothly, like Mario, and the Prince of Persia, others have not, Sonic anyone? Now there have been new characters in the silver age, so there is Master Chief, Kratos, and whoever.
I would say that the Golden Age was starting to end when the Doom Marine started shooting up the minions of Satan's army. The games I remember was in that little period from 1994-1998: Final Fantasy VI, Tekken 3, Final Fantasy VII, Tomb Raider, etc. It would say the new era officially began when Cloud was featured at the Superbowl in 1997, when we were all playing a misogynist, and right before Racoon City was destroy by a tactical strike. It was about this time when game developers were realizing that they could make money of these things. It was also the last time when developers actually took risks and released games that were not safe like Valkyrie Profile, Xenogears, and Chrono Cross. Those games were not safe picks by any stretch of the imagination.
Or, I might be wrong and the true golden age will begin when everyone who owns a computer will devote many hours to a second job they have to pay for. I'm almost there the Star Trek online is coming soon.