The November report on U.S. game sales from NPD Group is out. The report and some analysis can be found VentureBeat, including a warning that this does not include the fast-growing non-physical side of the market, and another saying that at this stage in the console cycle, the most appropriate month to compare with is November 2005, showing the market has grown almost 100% in that time. As you might surmise, those warnings accompany some disappointing results:

Game hardware sales were $838.9 million, down 13 percent from $962.2 million a year ago.
Game software sales were $1.43 billion, down 11 percent from $1.60 billion a year ago.
Game accessory sales were $280.9 million, down 8 percent from $305.3 million a year ago.
If you count PC games, total software sales were $1.46 billion, down 11 percent from $1.65 billion a year ago.