True Coldwave, just want to point out one thing though,

In the next few years ( say a maximum of 5 or so) there could well be another step up in consoles, a next next gen, which would go along the lines of far more processing power, so for someone like me who's only just started in 3d, I don't think there's anything wrong of thinking ahead, it'll take a couple of years to get the knowledge and practice needed so by then I'll be on par with the current technology.

If I was close to working in the industry now I'd agree to stay with as low poly as possible, but I think preparing for the future is a bit of a better idea for now, just takes some logical thinking to work out what poly limits will be in the not too distant future. 5 years isn't a long time after all, and time does fly by as you get older! lol

Just my opinion mate, I don't know what path of 3d I'd like to pursue yet anyway so poly limits are a side concern for me at the moment.