HereForTheBeer: Well... there's a middle ground in there somewhere. It's beginning (to me) to feel like games are becoming a commodity - like paper towels or some other mundane household product - to a large degree because of the quick sales and huge price drops in a fairly short period of time. And that goes up against the "are games art?" bit of it, with art not normally considered a commodity. Making a commodity of creative effort like this just cheapens the whole thing. To my screwed-up way of thinking, anyway. I think that's backed up somewhat with the anecdotal bits about backlogs, and how "I'll probably never get around to playing this game because I have 487 other unplayed games I picked up from $1.79 bundles..."
Yeah, and that's likely how most people are starting to view games (as commodities). Much of it is probably due to the effect of constant and deep discount sales, too, so... point taken.
HereForTheBeer: I also tend to look at many of the titles in the catalog and think to myself they're a steal at the current price and no sale should be needed. Stalker, Mount and Blade series, Morrowind, and many others. Hell, if those aren't worth the standard asking price then I guess I don't understand the value of things these days. All three of those are as good today as they were at release, and a better value now that the mod community has had their way for several years. Morrowind at $15? Worth every penny, and then some.
Agreed, but it's very subjective. The Mount and Blade game is a good example. I was only mildly interested in it and would never have bought it at full price. However, along came a sale and I said "What the hell, I'll grab it and try it out down the road". So there's an example of some cash put towards a game that would not have occurred without a sale price.
HereForTheBeer: I'm probably close to your own buying model. And I don't normally hold out for a sale on a particular game. Anyway, the current market can get off my lawn and all that. ; )
The only things I hold out for now when it comes to new games are titles that are tied to a client or that are planned to have a bunch of DLC. That's more the principal of the thing than any other factor though: I refuse to pay full price for client-tied games, and (with very, very few exceptions) will only buy DLC-laden games when I can get it all in one GOTY/Ultimate/Uber Edition package.
But yeah, for the most part, if I'm really interested in a game, I don't wait for a sale to pull the trigger.