It sounds like there is room for a lot of creative people. Most important is that much of the future lies with the on-line market. Fewer publishers and too many developers. This might even out over the next years. The market isn't and won't be as lucrative as first thought but it will be a steady and growing market.
Cost controls have to be initiated.
Salaries in the field are most generous. By cost control, I assume you mean technological costs. As new processes are developed costs will come down. As above, the on-line market is critical to deal with. Go out and play games.