Back in '95, E3 was an opportunity for developers to connect with the press and the public, showcasing the upcoming year's product offering. Today, with streaming trailer downloads and up to the minute blog coverage, do we need conventions like E3 to tell us what's up?
No.
The official E3 website has partnered with GameTrailers. Why even hold a convention when you can just stream the content directly to the public? The only purpose that a convention like E3 could serve is to grant exposure to indie developers. A glance at the exhibitors list for 2008's show reveals that only the major names will attend. Developer roundtables, interviews, and Q&A's could and are easily distributed via podcast. Trailers are obviously streamed on developer websites, social networks and gaming sites. Let's be real here: It's an excuse for Reggie Fils Aime to pound his chest and for Cliffy B to assert his heterosexuality. Boooring.
E3 and other trade shows like this are completely superfluous. They are artifacts of a bygone pre-internet age. Of course, as long as you keep clicking ads, the coverage will continue. Way to go, retrogressive consumer!