I think it will be awesome. The controller (which supposedly still isn't fully revealed yet) will get you in the game better. It adds a level of control that has never been before. Full 3d movement will allow you to do the craziest shit. Also it can bring all those PC games into the console market. Such as RTS or my personal favorite, adventure games. Adventure games (like Monkey Island and Grim Fandango) have been dead for so long...and I really miss playing them. Plus, the controller, can be cased into a regular generic controller (and also retain the 3d motion.) so you get the best of both worlds.
The best part is that the games will be unique. The current games are all usually clones of GTA or clones of Quake/Halo whatever. It's like you're playing the same games over and over again with no difference. The Revolution will force game developers to change. And change is necessary. The video game industry has not been growing that much if you take into account population growth. Less and less young people are playing video games, so you're basically not gaining new video gamers. You can't do anything if you don't expand the consumer base, and doing the same stuff over and over again will not do anything to expand it.