As a PS3-only player what I like of this gen are basically the great new brands (Bayonetta, Heavy Rain, Star Wars TFU, Demon's Souls, Dead Space, Lost Planet, Blazblue, Nier, Batman AA, InFamous, Dead Rising, Folklore, to name a few) and the good sequels of existing sones, like SSFIV, RE5, DMC4 and so on.
I like Trophies too they add something to the game.
On the other side I dislike the lacking of unlockable in-game content; characters, weapons, game modes...in many of the games I've played, almost everything is already pre-unlocked or requires one playthrough. Fortunately there are exceptions, but it's like games are made easier.
It's even worse when content is only downloadable via DLC, not to mention (the worst thing) when it's hidden in the game and has to be unlocked (paying).
There are too many generic/clones FPS (even i I don't care about them) and a lack of variety in Horror Games, JRPG and many others genres.
Some too many multiplayer and online-oriented fighting games, like SSFIV and Blazblue.
I can challenge people from all over the world with rooms, tournaments, rankings and various game modes, but all I can do with my friends at home is playing a lousy versus mode :\
New Move/Kinect technologies...I really don't want gaming to become "swinging a wand to attack with a sword" or "move like a dumbass while trying to do a shoryuken"...