About talk of next gen consoles, I think the whole notion of "R&D" for hardware is pretty much going to become anachronistic---at least as far as CPUs and GPUs go. The clear future for all none PC platforms is the user experience itself. If you want to think about what a PS4 and next Xbox will be, the question is how will we interact with our TVs differently in general in 5 years time?
The same goes for questions about the Vita, and what will become of portable gaming. The portable market in general has become so disruptive that for gaming journalists to make "dedicated gaming handheld" into some kind of albatross is ridiculously arbitrary. The iphone is finding success BY introducing video games to new audiences, so why would you look at something like the Vita and say "psh, that plays games. No way is it going to sell!"
That's not to say Vita will be a run away success, but the point is that we don't know what will distinguish the ultimate portable device yet. I firmly believe that smart phones are as they are now are not that end game, and that's why we're seeing Amazon sell 1 million Kindle Fires PER WEEK.