So...I reinstalled Sims 2 and Sims 3 over the last few days (finally have enough hard drive space I don't need to just pick one) and have been able to play many hours of both as well as continuing my Sims 4 game.
Both sides of the debate have valid points.
In many ways it's like debating which is better, a good pot roast, a cheese cake, or an ice cream cone with sprinkles...For me at least, I like all 3 and depending on what exactly I'm in the mood for, each could be my first pick at any given time.
As far as how long development takes compared to the past...the art side of things is a lot more time consuming than it used to be (TS4 compared to TS2). Animations are also nice and smooth compared to what they could get away with in the past, making them more labor intensive. The programming side of things though...I can't help but feel the TS4 team has fewer of these folks than the games did in the past. That and the game engine wasn't originally designed for a lot of what they are tacking on to it, which must be a real challenge. Personally, I don't envy the job they have and think they do a fine job considering.
(PS - I'm weird, and most of the time would pick the pot roast)
I actually expect this to be the last Sims game I buy...so I'm glad we should get at least 3 more years of content. The powers that be are going to continue trying to push the "social game" and "microtransaction" models. Rather than being the "ultimate sims game" it could be, 5 is likely to be everything I hate about modern gaming.