Most of my favourite games of all time are not on any current generation consoles.
In no particular order:
Galaga
Chrono Trigger
Ocarina of Time
Eternal Darkness
Starfox64
Goldeneye
Second Sight
Resident Evil 4
Castlevania: SotN
Final Fantasy 7
There's more I'm sure....I play my old games constantly, so I get a lot of bang for my buck. I'm not quick to jump on a new game usually. Exceptions being rare, such as Starcraft 2 (But I already waited 10 years, so screw waiting for a price drop!)