lol, jdogg has such a great point!!
No, but I can see your ideas behind questioning whether GTA V will be on this generation or next generation. This generation is just about finished and is running out of steam in some areas (graphics!!).
Using all of the knowledge I've soaked in, I'd say that Grand Theft Auto V will be on the current generation consoles, meaning Xbox 360 and PS3.
One of the big reasons to this is history. Think back to San Andreas. That game came out near the end of the last generation, but it went on Xbox and PS2 instead of our newer consoles.
Of course, I could be wrong. But I would put good money on Grand Theft Auto V being on Xbox 360 and PS3 instead of Xbox 720 and PS4.