I second that handheld argument

The last new "console" I bought on launch day was the DS. Would have bought the Wii on day one but it was sold out everywhere so I got it in January.
Up to the Dreamcast I usually wanted and got every console on launch day but then somehow I changed my mind. Now I usually wait a few months or more to see how the software support turns out, what the games are like and if there are any hardware issues that are worth wainting for to be fixed.
Got my Gamecube almost exactly one year after launch. Metroid Prime seemed just TOO good to skip.
I wasn't interested in the PS2 at all when it came out. I always thought the DC was the far better console (actually still think it is). Again I waited a year until the ygot me with Devil May Cry and Onimusha.
After the Microsoft launched the 360 and abandoned the original Xbox completely I got one for cheap.
The downside to all this is that my backlog is killing me, the good thing though is that when I want a new game I can choose from a huge selection and the games are always dirt cheap

Right now I'm trying to ramp up my Xbox library since there are so many great games on that little baby. Plus it's great to have it modded and put all your games on the harddrive. Unplug it, take it to a friend and choose from all your games to play. Kinda like a Virtual Console with games that are wort the price

So yeah, a (couple of) generation(s) behind is a pretty smart way to game. I hope all those new Wii owners will discover all the great games the Gamecube had.