I don't know what others will remember, but in my case it's rather small scale stuff.
I'll remember that in terms of library comparison, the 7th gen was rather unimpressive compared to its predecessors. Of the games that came out, the ones which impressed me the most were the Souls series, Red Dead Redemption, Yakuza and Mass Effect. These I played on console, mind. In terms of PC, I grabbed Bastion and FTL when they were new, and a few other gems (Witcher and Jade Empire) recently from GOG. My point is, on the PS2, I remember Kingdom Hearts, Final Fantasy X, Okami, Devil May Cry, God of War, Resident Evil 4, Metal Gear Solid 3 and the list goes on and on.
My point is, I have far more pleasant memories of the 6th gen than I do the 7th. Yeah, the graphics were nicer and mechanics more developed (in some cases), but there were far fewer emotional experiences which drove me to tears, or the ecstatic highs that would keep me happy for weeks afterwards.
Of course, that's not to say the last gen had nothing to that end; far from it in fact. Red Dead Redemption, Mass Effect, Bastion, Kingdom Hearts Birth by Sleep, and Yakuza are prime examples to the contrary. However, I think it says something that while I was writing that list, I was having real trouble trying to come up with good evidence, whereas the previous gen's heart string tuggers were readily available in my mind.