Game studios that employ armies of developers usually have tons of artists and spend ridiculous amount of time on graphics and assets. That's why a massively complex game like dwarffortress are never created. So there's tons of niches for complex games with ASCII graphics. (Sorry, pixel arts also takes ton of time)
As everyone else already said, control your scope or otherwise you never finish the game. Dwarffortress got where it is today by simply not aiming for great 3D graphics.
Also, Dwarf Fortress isn't done yet. It quite possibly ends with beautiful procedurally generated graphics (though I can't imagine that would happen with Tarn keeping it a solo operation.)
You can easily make a decent Flash game or experimental iPhone game part time. My first Flash game, with over 200 million plays, was made in two weeks including the time it took to learn Flash.
The additional hours will get eaten up by business stuff and maintenance once you're full time anyway.
I dogfooded my own advice, for what it's worth.
http://www.miniclip.com/games/stunt-pilot/en/
Two people, two weeks, normal working hours (Coffee Hero was an absurd crunch).
You may or may not have heard of the 48-hour game development event GameJam? http://globalgamejam.org It's possible to create something playable even in that time.
Also, Minecraft was originally developed part-time, according to Wikipedia.
Working on something serious part-time is hard, and I'm impressed by people who manage it. But it's doable.
Development of even a simple game takes so much time I don't know how practical it is on 10 hours a week. Game studios have armies of employed people on 60+ hours a week each.