Some great points here. Games like The Last of Us and The Walking Dead prove that narrative structure can be at the forefront of development, and people will still buy your game. I think developers (publishers, more likely) tend to underestimate the audience, and believe we are a philistines who have the attention span of little kids.
I love the ideas. Xbox "720" is the only system I will make sure to pre-order. Aside from the RRoD's, I've gotten the most consistent experience from Microsoft. Plus, I'm too big a Halo fan for it not to happen.
BadNewsBen's comments