Ripsnort, I dont wanna tell you how to raise your children, but I believe you are making a mistake here.
Since you are not from the Nintendo generation you may not understand the appeal of video games. The lack of this hallmark activity may someday even harm your children in the future in a few ways. Dont deny them of technology that can potentially be good.
Just because your son is actually afraid to ask you for these video games, doesnt mean he is not itching to have one. For him it may be the Red Ryder BB Gun :-P
Though I dont have one now, I was raised with video game consoles. Some of the games were dumb (Mortal Kombat, etc) but since I wasnt a dumb kid, I simply went for the better games (Final Fantasy saga, Metroid, Zelda, etc)
You have absolutely no idea how much a well designed video game can stimulate the imagination of a child. Because of the choices a role playing game gives you freedom with, it can be more stimulating than a book or a movie.
Well designed video games can really help a childs hand-eye coordination too.
Everything in excess is bad of course, just like TV can be, even books!
And of course there are mature games that children should not have in the first place, but video game boxes have ratings just like movies.
In short, try to open your mind a bit, dont deny your children one of the great activities of the new generation. Let them have a console and a few good games. If you wanna know which games are actually good for them (there are some even better designed than Aces High) just ask around here.
And simply limit their video game time just like you limit TV time or play time. Watch them, sit and play with them. You have no idea how much fun I used to have playing sport games with my father on a rainy day. Its one of my fondest memories.