To me it's all about the features a game offers. If it's a single player game I usually won't pay over $30 for it, period. I look at it as "I can just play that later". If it's a new game with online/offline/co-op/splitscreen/great single player I almost always will buy it at the full $60 retail.
If they started focusing on more options then it would justify at least "my" purchase. I can't count the number of times i've said (Damn, I wish GTA IV was splitscreen).
I would vote for more options versus less price and I think current prices can and should cover all those bases.