I have said for years that the 4th quarter rush for games makes no sense to me. Developers and publishers have pushed out poor content for that model for far too long.
I personally prefer the old winery approach: "we will sell no wine before it's time", and would prefer to see that model used with games as well.
If a title is worthy, then release it when it's done. It certainly didn't harm World of Warcraft (as one example), it hasn't harmed Sony with the Playstation portable (PSP), and it hasn't hurt games like the Grand Theft Auto series. You can also clearly see it hasn't hurt the EA sports titles, Madden, NCAA Football, etc.
It seems to me that the ones relying most on the holiday season rush are the ones that have pumped out crappy content. They rush their content to get it out in a season when it can be lost in the noise and deficiencies aren't as noticable.
Anyway, I for one (as someone that buys games on a regular basis) would be happy to have a calendar full of great release dates, rather than one packed during one time of the year.