Simply looking at how games have progressed in the past 10-15 years makes me excited as to what we'll be playing in the future. Just think of what it will be like if we have the same level of technological advancement that we've had so far.......but further into the future! Not just in terms of graphical advancement, although those pictures Shorty posted are incredible, but in terms of input/gameplay etc.
Imagine something like the Kinect in 20 years time, which captures your entire body in real-time, puts it into a MMO or suchlike, with the ability to recognise almost any interaction you can think of. Add that to amazing graphics, plus some sort of head-tracking eye display that actually works....
Or even being able to control directly with brain waves or suchlike, that would be cool. I'm sure it's not that far off, (although the jump to being in a commercial console would take a lot longer).
I personally hope i still have the time/money to play video games if/when any of this becomes available...