With the release of the three revolutionary consoles by Microsoft, Sony and Nintendo in 2005-06, the gaming community was assured that they will be paying for more than a few hundred polygons.

I myself don’t call the Nintendo Wii a “Next-gen” console. I heard this someone saying and I totally agree with him: “Wii is a PS2 with a better controller”.
For some reason Wii is the most sold and “abandoned” console of all three. Third party developers don’t seem to like the Wii as much as PS360.
Mario series continues to grow. It has conquered the World and gone beyond the Galaxy. The latest friend Mario found was Sega’s Sonic in “Mario & Sonic at the Olympic Winter Games”.
But, Nintendo’s strategy works. They seem to be counting more cash in almost every week.
Now, Talking Next-gen :)
IMHO, In November 2006, Xbox 360 and Epic gave the world the first next-gen console game. Gears of Wars raised the bar for run-and-gun games. It also played a very important part in making the 360 a success.

The same month Sony launched the PS3 with Resistance: Fall of Man. An FPS game which most compared to the 360’s GoW, and lagged a step behind.
Grand Theft Auto IV and Metal Gear Solid 4: Guns of the Patriots, both released in early 2008 received the highest of reviews from sites like IGN and Gamespot. If I were to review these games, I could have done the same. These two games really dragged me back to console gaming, at a time Crysis was forcing me to buy a high-end gaming PC.
Prince of Persia (2008) was one of the most colorful games I’ve ever played. Kinda repetitive at first, but the game has great combinations of fighting combos and visuals.
The infamous trailer of Killzone 2 at E3 2005 caused a mass jaw-droppings among the visitors. Many argued on the fact that it was all a pre-rendered movie or a cut scene. But in February this year the developers; Guerilla proved the critics that a good trailer could sometimes lead to one really good FPS game. Even the developers at Microsoft applauded the game.
Resistance 2 was good, but Killzone 2 really made it look cheap.

… and there was Batman
Batman: Arkham Asylum = MGS4 + Splinter Cell. After playing the game, I thought nothing could possibly beat this game this year. Everything about the game was incredible. You don’t have to be a Batman fan to enjoy it. It’s an awesome game with plenty of platforming, gadgets, exploration, fights and a lot of cinematics.

But, Drake returns with a bigger bang.
Uncharted 2 is definitely the most complete game I’ve played, in recent history. Some reviews here: G4, IGN, Gamespot. Need I say more? One point to add. The game proved that it doesn’t have to be green, brown or grayscale to make it a great game. (Uncharted 2, have this Next-gen Filter in Options)

Game Developers, This is the game to beat. :)
(screenshots taken from IGN.com. DUH?)