I've had this discussion with many people. If you expect a new console to have RPGs within a year, you will be very disappointed.
RPGs take a long time to develop, and normally don't come out unless a platform has been out for at least two years in Japan (unless a game was developed on another platform and moved or ported).
With the PS1, it didn't get a few good RPGs until 1997 in the U.S. (PS1 was out since late 1994 in Japan). PS1 didn't start to explode in the genre until 98/99.
With PS2, it may have had FFX and Shadow Hearts in just over a year (FFX was like the first PS2 game in development), it took a while for PS2 to get going. IMO, there wasn't a decent selection of RPGs on PS2 until 2003 (PS2 came out in 2000).
With PSP, it's early RPGs were ports (in 2005/2006). It finally started to get good original RPGs this year.
PS3 looks to finally get some RPGs in 2008, and I expect it to have a pretty decent selection in 2009. Although, I honestly feel the RPG selection on PS3 won't be larger like PS1/PS2 (unless it's the dominating console in Japan, but handhelds are dominating in Japan).
Unless you pick up older games on PS1/PS2, handhelds are where the RPGs are for now, but more will start coming to next generation consoles.
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