Off topic: Yes consoles are probably dead.
Listen, consoles are going to get just more and more expensive (just like everything else), with all the cost being up front. Meanwhile, computers can be built up to "awesome" over time... 100 bucks here, 200 there. You can take your time.
PC's have always outpaced consoles in the graphics support due to: PCs can be upgraded, consoles cannot. So thpppt.
The console has always had speed and convenience on its side. Until now. Now you need to install shit, and be connected to the internet for all the content. And you have to fiddle with settings. Consoles are becoming just as much of a hassle, if not more of a hassle, than playing games on a PC.
Also, my PC supports all the latest and greatest software for maximum net surfing and it's never a hassle to get third-party "apps" like NCH sound editor or even movie maker.
"BUT!" I hear you cry, "PC settings are fiddly and things could get unstable." Well get your head out of the Linux cloud because I haven't had to change a single setting in two years and it's only ever froze because my room got too hot. Meanwhile, my xbox starts to fall apart if a game gets too busy and I swear it freezes once a day. "Also, viruses!" You know who thought they were virus proof too: Apple. Moot point anyway, because fending off the virus is relatively easy if you aren't doing illegal things. Just learn to recognize what to avoid. That won't be so easy on the console, with all of their processes built in and hidden from you. Like the processes that happen when it automatically loads up what your friends have been sharing. Someday, some hacker is going to virus up your precious share button and then the fun will start.
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Okay, I'm being a bit facetious, but I can be because consoles are acting more and more like PCs with every generation. The last console generation that FELT like it had consoles and not just stripped down PCs was the sixth; with the PS2 and the Gamecube.
So yeah, consoles are dead, because they aren't consoles anymore.
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On topic: Yeah, not much interested in any MMOFPS. As for MMOs in general being on consoles? Pfff bwahaha. I've seen your games fall apart with 16 people playing. Okay okay, maybe it'll work, but the Memorpugas are going to have to be simplified because you only have ten buttons you could possibly use. I don't want my RPGs to be simplified, I want them to be even MOAR complicated. I want a game where I need a database for all of my skills...
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Wait, did I just think of a way sixty skills can be used by ten buttons? Three big sections to cycle through: Attack; Alter; Utility. Five minor elements to cycle through: Fire; Water; Air; Earth; Nature. Hold on, I gotta go write this down...
Nevermind, MMOs could totally work on consoles, but you'd have to specifically design them for the consoles.