In a year, maybe, you can consider getting into the new generation of consoles by buying either an Xbox One or a PlayStation 4. From what I’ve seen, I’d lean towards the Xbox One, because I prefer the Microsoft ecosystem, it has better multimedia features, and Microsoft has a better track record with this kind of thing. In fairness to Sony, the PS4 appears to be a much more user-friendly machine than the PS3, and probably has the edge in pure power. It depends on what you’re looking for.
But unless what you’re looking for is a really expensive DVR/Roku/Blu-Ray combo that can play three or four unique games, skip it. The systems won’t be populated with titles for a year at least, and neither is backwards compatible. None of your old games will play on them. Neither is a good choice for family use right now, since almost all the titles are geared for older players.
There is more than enough out there on the existing systems to keep you busy. The final days of any console system tend to be a Golden Age, with a lot of strong titles made by people with long experience of coaxing maximum results from well-worn hardware. This new hardware will take time to master, and it will be a while before you really “need” one for playing unless you’re hardcore about getting a few new titles–like Killzone or Ryse–right now.
Now is the time to take a second look at the Wii U. It’s a family-friendly system, you can find some pretty good bundle deals, it’s had a year to build a library, it’s backwards compatible and will play all your Wii games, and Super Mario 3D World is out.
Save your money on the other systems. Look for the first price drop. There is no burning need to be an early adopter, unless you like to hurry up and wait.
These machines just cost too much right now. You don’t need it. Wait. Donate the money to Heifer or something and try again next year.