One gaming console future? is this possible?No need for hardware upgrade(video)

I came across this video about this service thats going to be available in the future, where anyone will be able to run any games on there TV or PC because all of the processing is done server side. What will this do to the GPU companies?

So Would you suggest that I keep upgrading my Rig until then

Here's the link

http://g4tv.com/thefeed/blog/post/694247/OnLive-Gaming-Service-Announced-A-New-Dawn-of-Gaming.html

so everything is run off a server? so need to worry about having the best graphic card......I read somewhere that XBOX was trying to do something with this, and both EA and UBISOFT have parts in it. That is defintally the future for sure. The one thing they didnt mention was price, service price...I will assume that that will run you about.....500 dollars, if not more.

so everything is run off a server? so need to worry about having the best graphic card......I read somewhere that XBOX was trying to do something with this, and both EA and UBISOFT have parts in it. That is defintally the future for sure. The one thing they didnt mention was price, service price...I will assume that that will run you about.....500 dollars, if not more.

Beesters

How expensive you think it will be? Also this would put the 360 and PS3 out of business. They didn't make any statements about Nintendo. So what will the Wii be the only console left standing?

Not to be a pessimist but something just have to be wrong with this.