Though I meant it to be funny, I thought it a valid question.
I really don't know what the statistics would look like. As memory serves, most of the gamers I've known were fairly hard core, and spent quite a bit of cash on them over time.
As far as the potential on iPhone software, I agree. Software has historically proven to have higher margins than hardware.
Individual habits vary, but it may not matter, as the iPhone is a unique product, not directly comparable to a home gaming console anyway. 😉
As Apple likes to have their cake and eat it too, perhaps they will consider them non-competing markets, and sell both anyway. 😛