Games, not really.
I guess there is argument for things like Arma 2, The Witcher 2, Mirror's Edge, large maps, longer view distance, 64 player online, etc. but as far as AAA games that use knew breaking technology that constitutes a generational leap, games now simply aren't there because of:
1) Console money. Sales = Profit.
2) Money + a crazy idea + talent + a way it doesn't impact other aspects of a title + is fun
3) Current Game design
I'm not sure what exactly would constitute a generational leap from today. If I had to guess I'd go with animation, AI, physics (and environmental interaction), view distance, and faster loading. Better FPS, textures, lightning, etc. I'm not sure about. There is making what we have and know better, and then actual improvements in other areas that require dedicated work, power, and might not affect key elements of gameplay. 60FPS from 30FPS sure feels like a generation leap to me though.
I would say that the PC experience of having everything installed, fast loading, dedicated servers, etc. could be considered a next-gen online experience though.