I'm still seeing a lot of people bitching about the price of "next-gen" games going up $10 from the US$50 price point that we have with the current generation. So, let's take a look at the granddaddy of them all, the Atari 2600, and compare it to today while adjusting for inflation.
The Atari 2600 launched in October 1977 for a price of $199. (Adjusted for inflation, that works out to a current-day price of $649.) Compare that to the Xbox 360 Pro SKU, which shipped at $399.
In the days of Atari, development budgets were small. Space Invaders for the 2600 was made for $11,000 (~$36,000 adjusted for inflation). Compare that to the minimum $2-10 million development cost it takes to make a game today.
Atari 2600 games cost US$20 at launch. ($65 adjusted for inflation.) Evidently, this means that even with the $60 price point for "next-gen" games, games are still cheaper than they were on the Atari 2600.
Now, I fully expect prices to decrease on games back to the traditional $50 price point over the next two years as economies of scale start to kick in, but in the meantime, $60 is still a good deal when compared to the past. And believe me, I never thought I'd say that the $600 PS3 SKU was a good deal compared to the Atari 2600...