As you can probably tell I'm quite excited about this - really looking forward to seeing what we can get from this new hardware since adding any extra strain to gen 7 machines would probably result in them becoming peices of melted plastic and metal, and even more so what new directions and visions we'll see as a result of this. Off the bat it seems greater connectivity between players, in all regards (sharing creations, connecting in MP, etc), will be a hallmark of this gen - though I'll be curious about if another hallmark emerges over time, like perhaps functional voice control.
I'm getting both new consoles and a few games - though I've only really settled on console exclusives, waiting to see which console I prefer before deciding what to do on multi-platform titles. I'm also keeping my current consoles, got too many good games on them to just junk them including some I've yet to finished once.
Anyhow what are you doing in regards to the generation change over?