I do pay full price for some console games on release but I only do when I'm comfortable on a game by game basis.
Recently I bought splatoon immediately, however as a first party nintendo IP I had a high level of confidence in its quality based on a relation ship with nintendo going back to getting an NES and Zelda in 1991, and never being disappointed in the quality of their games yet. Similarly I've been happy to drop a pre order for Yoshi's wooly world and the wooly amibo, because I know both my other half and I will (just like splatoon) get hours of entertainment for our 30 pounds and 50 pounds respectively.
The exchange rate actually seems to be making wii u games a particularly good deal in the uk at the moment.
Similarly spending £40 on a special edition of Dark Souls on release with a gorgeous art book and documentary about the games development is a wonderful deal when you think about the hundreds of hours entertainment I've had from that game.
Similarly I won't buy bioware games on release, based on their recent record. I couldn't guarantee quality so I waited a bit to get Dragon Age inquisition, also as single player focused games I don't feel I loose anything from coming later to the game, as there is less of a collective experience than with a souls game or a multiplayer game like splatoon.
A lot of it comes down to money, I'm in the fortunate position of being in a relationship without children where both of us have a decent income (and we both like games) so spending 50 pounds on something we will both get weeks of enjoyment from (if it's a couch coop game all the better as we get to do it together) is a pretty good value proposition to us, when going out for a good meal can cost double that, our nights out at the theatre or cinema can be also be easily as expensive for one night. A good game can actually mean a lot of cheap nights in together for us.
Also, it may be a matter of perspective I did my formative gaming in the 1990s in the UK when a copy of street fighter 2 on the mega drive cost 70 pounds at release in 1993 (130 pounds today if you adjust for inflation, 205 dollars for our American friends)
So yeh, in the historical context that I'm familiar with, your 70 dollars for a new game really isn't too bad compared to 205 dollars for one game when I was a kid.
I used to get 1 game to last me from Christmas to birthday and so on, (and I was a lucky kid to get that), so yeh games prices have in real terms halved in the UK in the last 20 years, and although I've not done the maths I'm pretty confident the same is true for the US and lots of other countries around the world.
All in all, I'll totally pay 40 or 50 quid for a new game.
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