Soldato
I think its fairly safe to assume that the next gen consoles are going to be capable of putting out the current crop of gamess at the same image quality as they have on high end PCs currently.
However consoles remain static, and by the time we replace them in another 7 years or so they will look equally as poor as they do now. Its just because we're at the end of a life cycle, when PS3 and Xbox 360 came out, the graphics were stunning for the time.
Do console games really look poor though though considering their age?
Consoles being static is a very good thing though, I'd love to see a 6-7 year old PC playing God of War 3 or Uncharted 2-3.
The fact consoles are static means they can be optimised for fully.