It amuses me how many people still argue the 360 and PS3 are current, there's no need to replace them anytime soon, there's still power to be milked out of them, etc. Yet they are older than the first iPhone. If you tell these same people would they use the first iPhone, they'll gasp you out of the room.
It doesn't matter how fast the PC keeps rocketing past the consoles and as their price goes down, most of these consolers will keep saying their current-gen consoles are very much current and no need to replace them at all. But the instant they see some tech demos from recently announced new consoles, they'll be all "SHUT UP AND TAKE MY MONEY!"
The 360 and PS3 ARE current devices because each console has new software coming out. The first iteration of the Xbox 360 can play Halo 4 just as well as the new Xbox 360 S, whereas the first iPhone cannot run iOS 6 and thus cannot run the most modern software. Mobile hardware from ~2007 to 2013 has made huge changes. I suspect that there will be less adoption of the latest new phone as time goes by. Once the UI is fast enough, the cameras are good enough to eliminate point and shoot devices, and where even a phone a couple years old can run the latest casual software, the need to upgrade will diminish. The only reason people will want to upgrade their phones then is because the battery might have gone flat in 2 years of use. Hmm, just in time for another contract renewal.
Of course people will want to buy the new generation of consoles, because once those units are out, their existing consoles will have less new content. People will go where there is content, especially new content.