I voted slightly downhill.
But, take that with a grain of salt. I was only thinking WotC D&D when I voted, and I've heard great things about the new Star Wars system.
But, speaking of WotC ... I've been sorely dissapointed in the Complete series since CM. PHB II was great ... but everything else since then is meh. I don't do minis. I don't do dungeon tiles. And with the draconomicon, the 4 basic Completes + Complete Magic, MotP, BoED, XPH, and Core - the truth is that I really have enough different options to feul my gaming for the rest of my life.
In a few years, I'll be a 3.5 grognard!