Announcing that games like fable will have more than one sequel is a bit much. Whats the point of buying Fable 3, if fable 4 is already being worked on.
If it's something story, or at least progression based, ie Fable or Mass Effect, then you'll want to go through the whole journey, not just see the final chapter. It's not like the actual improvements of visuals and mechanics will be so vast when they're planned so close together and within the same generation, and especially when the first titles are so well regarded already, which means they'll stick to their winning formula. All the next sequels offer is further progress and storyline, not a game that is vastly superior to the prequels. Now if they announced Counter-Strike 3 prior to Counter-Strike 2's release or something, yeah, I could see your point for such a situation, but not with games like these.
Yes, the new Terminator seems to be getting away from the old action formula and getting into being a war movie. The jury is out until the end of the month.
As for sequels they will be continued to be pumped out because they are cash cows. Names like Call of Duty, God of War, Halo and Mario will make money regardless of the quality of the actual game. People will pick it off the shelf long before something which they have never heard of. Especially in a down economy established franchises are the bread and butter of any video game developer.
I remember when Dreamworks announced that there was going to be a Shrek 4 and 5 at the same time. Shrek 3 had just come out and "bam!" 4 and 5 are going to be in theaters whether you like this one or not.
Half the time, I think announcing that there will be more sequels too soon is a bad omen for the franchise overall. Check out how successful Advent Rising and Too Human have been. Anyone who says that they planned their game as a trilogy even before the first one is to market is a gigantic fool.
Fable 1 and 2 were successful games, so saying there will be a Fable 3 is unneccessary. We all expect another. I'd be more amazed to hear a developer say (and mean it) there won't be a sequel. "We've had fun creating that world, but we're done with that idea and want to try something else" Yeah, like that will ever happen.
"Has there ever been a developer, in the history of games, which said, and meant, they will not be making a sequal to a successful game?"
Shigesato Itoi said he's never doing another Mother game."
But that's probably because the series wasn't that good :P. (And on a less controversial note, probably because the ending to Mother 3 sucked and the series has never been financially successful.)
Treasure had a no sequels policy. They sure changed mind for at least some of the games as they made some quick GBA cash in sequels, and are now doing a (not merely cash-in) Sin & Punishment 2. But their original stuff are still the best, and they didn't do it to all.
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