This is something that is quite close to me, the difference between high FPS and low FPS. I'm an avid 60 fps or more fan and run a triple monitor setup comprising of Alienware AW2310, 120hz screens. It's amazing and I traded my 30" HP LP3065 for it.
The above link shows the difference between a square block bouncing up and down in three FPS settings, 15fps, 30fps and 60fps. 15fps is instantly visible as jerky, 30fps is a little better but 60fps is quite fluid. What I hope is next-gen consoles feature 60fps minimum at 1920x1080 which I am personally confident is easily attainable with current hardware.
Next-gen consoles will most likely feature ~HD6850/GTX560-esque hardware, which as I said is more than capable of 1080p @ 60fps if all games are designed to run on the set of hardware of next-gen consoles, it should be attainable. It is something that would change the entire face of gaming and would really keep up with current PC technology.