I'm one generation behind through choice, I've never been an 'early adopter' and prefer to wait and see what games come out for a platform and how they stand up after the hype of release has died down.
I mainly play on my PS one, PS2, Gamecube and my Gameboy Pocket for handheld gaming. I've got stacks of awesome games for each of these waiting to be played and still have my eye on a few rare and collectible games. I love trawling game shops, charity shops and even Cash Converter type pawn shops for bargain gems. I picked up a mint condition, complete PS1 Silent Hill and MGS for £2 each in a pawn shop this weekend, I find this much more satisfying than forking out £40 for a new release.
I also have PSP 3000 and a DS Lite but I only pick up games for them if I spot a bargain that can be stashed for playing sometime down the line. I've got my eye on a Wii solely for the virtual console but can't really justify it with the queue of un-played games I've got. I also own an Xbox 360 but have lent it to a friend months ago as it never got played. The last game I finished was Jak and Daxter: The Precursor Legacy and I'm going to take on Alien Resurrection on the PS one next.
There's just too many awesome games out there for me to catch up with the new stuff, that's why I play retro titles.