Liferealized: I agree with you. Especially as the supply of 5xxx series cards runs out. The 6xxx series is not as cost effective.
At some point the difficulty has to level out. But, is that point 2,000,000 or 10,000,000 ?
First and foremost, I cannot predict the future.
But from the looks of things, I would guess that we will not have too many more 10% increases and that this "new paradigm" of ever growing difficultly will not be sustainable. I would suspect that we might even have a difficulty decrease in the near future (2 - 3 months).
The costs of getting into the 3m difficulty range are in the 10s of millions of dollars and do not take into account the net effect of driving out smaller miners (less than 5Gh).
This assumes no new discoveries / technologies that have any great impact on mining.
Again, I cannot predict the future and have been known to be wrong before.