That's the way we're going with it, Infy. Partly since we did overall "best of the '00s" and "best of the '90s" features a few years ago, and partly because it's so difficult to put a time constraint on a console generation, since they don't all come out (or go away) at the same time.
Since the Xbox 360 and PS3 aren't quite finished with their runs yet, we're holding off on them. But we're working on "best of PSP" and "best of DS" lists.
(Yeah, the Wii's done too, but look at the Wii reviews page
and sort it by score. I'm not sure there are really enough to put together a bigger list than "top 5" without including games that really aren't worthy. Just my opinion, not the official site take on the matter.)