LOS ANGELES (CNN/Money) - Class? Settle down, please.

As you know, we're half-way through the semester, which means it's time for your mid-term grades. Who wants to go first? Raise your hands.

I should have known... PlayStation, you always want to be first.

Well, you've definitely been the class leader this semester. You got to school early (a whole year early), which has been a great help to you. You're definitely the BMOC, but you're in danger of letting this popularity go to your head.

You've sold more units than anyone in your class – more than 22 million in North America alone. And you've had the widest array of software, including exclusive console rights to the industry's most popular game franchise: "Grand Theft Auto". You capitalized on the substantial gains you made last semester by remaining backward compatible with earlier titles and you made your parent Sony (SNE: Research, Estimates) very, very rich.

I was afraid you might stumble when you forgot to bring an online component to school, but you've managed to turn that around nicely, even earning a little extra lunch money ($24 million or so) in the process. (Mr. Wall Street, your economics teacher is particularly happy about that.) You also have forgotten your hard drive, but plan to use the same solution to take care of that problem when we begin studying "Final Fantasy XI" later this year.

You seem a little tired, though. You can't keep up in art class with the other students and the boys and girls in the developer glee club have grumbled that you're pretty hard to code for – and they're terrified by reports of what you've got in store for them next semester.

None of that really affects your current grade, though. You have rightly earned an A-.

Miss GameCube? Please come forward.

Sigh. I'm afraid I've been a little disappointed in your performance this semester. You seemed prepared enough when class started. Your art skills were better than ever. You'd slimmed down. And you had seemingly endless potential.

What happened?

Some students aren't doing their homework.

You've regularly tardy with your game assignments (in fact, "Wario World" still hasn't shown up on my desk yet!). Your biggest assignment to date "Super Mario Sunshine" certainly performed well, but it lacked the creative spark I've come to expect from you. "The Legend of Zelda" and "Metroid Prime" are the only two projects of yours that have lived up to their promise.

You're definitely my most innovative student, though. Your Wavebird project was one of the finest executions of an idea I've seen in all my years. Let's hope your classmates follow your example of wireless controllers – and soon. And when you do games right, you're second to none.

Sadly, the fact remains that you're in danger of being left behind by your classmates. I like your ideas for the coming months and your tuition is paid up through next semester, but if you don't make some changes, I fear that you might have to drop out of school. And that would be a real shame. Your grade is a C.

Since we're talking about the Nintendo family, let's get you up here GameBoy Advance. You've definitely made your sister look bad this year. Whereas she ignored backward compatibility (granted, out of necessity) and has turned in a minimal number of games, you embraced your previous work and have churned out new titles.

You've listened to criticism and added an internal light and a rechargeable battery – and redesigned in the process to make yourself more attractive to older gamers. You're a model student - A+.

Xbox? Your turn.

As the new, rich kid, your early days in school were dogged by accusations that daddy Microsoft's (MSFT: Research, Estimates) money got you in. You've worked hard to prove your worth, however.

You're the top student in art class and computer lab. But most of the games you've turned in have only been so-so. If you don't improve the quality of those, you'll never fulfill your dream of besting PlayStation and becoming class valedictorian. As it stands, with only 5 million units sold, you've got a long fight in front of you.

Extra credit goes to you for your seamless introduction of online console gaming. (Mr. Street, by the way, is thrilled you've found a way to have gamers pay for it.) You've definitely set the standard for your classmates to follow, but if you don't improve your software fundamentals, this could blow up in your face.

You've impressed the teaching staff, but we remain a little concerned about your long-term fate in the school. We're also getting a little tired of having to break up scuffles with you and Miss GameCube on the playground. Final grade? B.

Darn it, there's the bell. Software companies? You'll get your grades in the mail.  

Prof. Morris is Director of Content Development for CNN/Money. Click here to send him an email.