Jaffe's analogies with the DVD and VHS arguments are off-base. Yes, the format has/had been standardized, but there were dozens of manufacturers making players with dozens of different feature sets, just as the different consoles available now provide different feature sets.
Having a standardized coding platform would only benefit publishers and developers. Consumers would suffer in the long run because publishers would only shoot for the lowest common denominator and publish untold multitudes of hastily cranked out crapware. Quantity would overrule quality in the misguided hope that one of the multitude of titles would be a hit.
Console manufacturers would have no reason to ever improve their products before the market becomes completely saturated and they need something new to sell or games on PCs become so much better that people stop buying console games. Then, and only then, would there be a new console and the cycle would begin anew.
If this is the future of gaming, I'll find something else to do with my time and money.
Head Chef & Bottle Washer for LAN Addict - http://www.lanaddict.