After seeing how much hype and excitement is out for these games, I doubt that they will suck. I don't mind buying it used I mean, maybe the seller is specialized in selling it used so they have tons of positive feedback on their products, then I'll know it's worth it.
I tend to get consoles used and never had a problem (the only ones I bought new were the Wii U and 3DS). I could just be lucky though...plus I use Amazon. You have to really research the seller: see how long they've been around, their reviews, etc. Same with eBay. Recently there was a guy who tried to get an X1 off eBay for $450 and was scammed...only got a picture of an X1. Luckily he got his money and a free console, but still you have to be careful about freshly released consoles.
And you have to really be careful when going with Craigslist. Now that I wouldn't recommend at all.
That aside, used is where the
best prices come in. You can pick up the console and a few games as opposed to waiting waiting for a slither of a price cut and getting either just the console or a console and a game...one game (which will drop faster than the console itself, of course).
But 5-7 years before the next console? I think it'll be sooner since technology is growing faster and bigger than ever, or am I wrong?
I'd say you're somewhat wrong. You're right that technology is growing faster and bigger, but it will be 6-7 years before the next console. No one's going to want to keep buying a $400 and $500 device--which will probably jump to being $500 and $600 given the technology and features put in a new console and to actually warrant building it and releasing it so early. People do that for smartphones (people
love their smartphones and
need to have a new one that is somewhat different from the last), but with consoles I don't see shorter life cycles.
Consoles are built to be around for awhile and left open enough to add new apps and some features. If a new feature just
needs a new console, there will be a slim version in that line (with Sony and Nintendo there's always a slim version...as if they figured in the middle of the generation "This can be smaller, really.") with it being priced the same as launch and the original PS4 getting price shave.
That's when you the first official price drop comes. When a newer model of the same console that does the same thing hits shelves.