I think you are probably right when it comes to console games, booldawg. Revenue streams are pretty good from the high profile games, like Call of Duty, HALO, Gears of War and all of that, and the studios are spending a lot of money on high production values.Games are permeating all walks of the Creative Industries - The composer of Skyrims score recently picked up an award in Classic FMs Hall of Fame :)
I think the golden age might well come with the next generation of consoles though, with all that the improved specs mean for production values and games design.
Not sure that games are quite as innovative as they once were - that would be my main concern I think. The current gaming industry trend seems to be mirroring the trend within the film industry of big blockbuster titles with many sequels, which exchanges brand and familiarity for genuine innovation.
And some of the games companies are still struggling over how they manage the Digital Rights Management - bane of all gamers - witness the recent fiasco over the latest Sim City title.
I would agree that DLC represent a continuing and profitable revenue stream - but again for gamers, the trend needs to be monitored carefully - are they reducing original game content within the initial game in order to offer DLC which they can charge for and keep the title alive for longer?