I would lean toward the "as long as it takes" approach. Saying that, games like LA Noire that took 7 years to make is probably too much. And if it is in development please don't bother announcing it so early on, when anything could happen or we could be waiting years (see Time Shift for how not to develop or market a game).
I would always prefer, as a customer, to wait for a proper polished product than to be stuck with buggy, unfinished games. Cases in point, Vampire: The Masquerade Bloodlines, KotOR II, Alpha Protocol. All three are wonderful RPGs with great stories that stay with you long after the end credits. All three were also released too early and were full of bugs, missing content, unfinished areas (and even missions) and so on. Now the only thing that is remembered about them is that they were all three flawed gems, great games that could have been genre defining successes except for the greedy, moron publishers who insist on a "Christmas Window" or other nonsense.
Don't mistake me, I appreciate that from a business point of view, time is money and the longer development goes on for, the more it costs the publisher. LA Noire springs to mind again with its first publisher withdrawing totally and Rockstar stepping in to not only save the title (and the studio, albeit that only temporarily), but to eventually even help with development as well. The most extreme case, Duke Nukem Forever, long considered the industry's biggest joke actually got made 13 years after it was announced. While the final version had zero in common with the original proposed title from the 90s (beyond the name), it probably should've been allowed to remain unmade.
If I had to put a number, I would say 7 years...SW: Old Republic and LA Noire took that length of time but are complete, polished, well made products. More than that I can't imagine any publisher ever committing too, not in the day and age where Activision can make many millions with a < 1 year development cycle churning out the same game with a number increase.
I would always prefer, as a customer, to wait for a proper polished product than to be stuck with buggy, unfinished games. Cases in point, Vampire: The Masquerade Bloodlines, KotOR II, Alpha Protocol. All three are wonderful RPGs with great stories that stay with you long after the end credits. All three were also released too early and were full of bugs, missing content, unfinished areas (and even missions) and so on. Now the only thing that is remembered about them is that they were all three flawed gems, great games that could have been genre defining successes except for the greedy, moron publishers who insist on a "Christmas Window" or other nonsense.
Don't mistake me, I appreciate that from a business point of view, time is money and the longer development goes on for, the more it costs the publisher. LA Noire springs to mind again with its first publisher withdrawing totally and Rockstar stepping in to not only save the title (and the studio, albeit that only temporarily), but to eventually even help with development as well. The most extreme case, Duke Nukem Forever, long considered the industry's biggest joke actually got made 13 years after it was announced. While the final version had zero in common with the original proposed title from the 90s (beyond the name), it probably should've been allowed to remain unmade.
If I had to put a number, I would say 7 years...SW: Old Republic and LA Noire took that length of time but are complete, polished, well made products. More than that I can't imagine any publisher ever committing too, not in the day and age where Activision can make many millions with a < 1 year development cycle churning out the same game with a number increase.