I was severely disappointed with the previous generation of video games, with the exception of Dreamcast when it's online servers were active. I can't say there is one game I have played from that generation that I really thought was outstanding. There were a few great games, some good games, and a whole lotta bad games. I think this is one of the main reasons why I am supporting the Wii because it's trying to take a different direction from the last generation while 360 and PS3 games seem no different than the last generation to me.
And as far as graphics go, I don't think they are better than older games from an artistic standpoint, mostly because I find CG to keep exagerrating itself these days trying to be so realistic that it's actually becomming less realisitic in a way. In a tecnical standpoint, of course they are better

, but I'd rather have the graphics be more like an art form than a realism form.
Retro games are fantastic. Simplistic, original, style-ish, inexpensive (these days at least), challenging, and of course, fun

.