I'm surprised there's any debate, to be honest. Yes, games are ultra violent, yes, games do go after the teen boy market and yes, it is starting to get fucking dull.
I'm as much of a gore whore as anyone, within reason but I can't stomach films like Human Centipede, A Serbian Movie or any of these contemporary, spite filled movies that try to pass for horror.
Games aren't on a level as these types of films yet, although a few have tried, and the violence in these games is still very much of the Urotsukidoji levels of blood and limbs but if the next gen is the leap in graphics that we presume it's going to be, do you think we'll get more 3D Dot Heroes or Limbos with beautiful colours and design or more visceral, graphic scenes of guts and gore?
Games are incredibly violent, and I'm a sucker for it as much as anyone, but publishers and developers are not suddenly going to ease up with the next generation. Most times it's a bullet point on the box to sell the game.
If gaming is going to be seen to mature as medium, it needs to get out of this gut-rut. But, until gaming as we understand it appeals to a wider demographic, it cannot possibly afford to.