[quote name='Rozz']There are lots of cheaper games you can get now, such as used titles and the Platinum Hits line. You don't have to buy games the first day they're released.[/QUOTE]
I know, that's why I'm holding off. The games I really want haven't dropped yet. Really only Oblivion and Gears interest me out of the current releases, with several coming soon like Bioshock, Mass Effect, Halo 3 etc. interesting me also.
So the other reason I've waited is the game library hadn't appealed to me, on to off $400 (and now $350) being a good bit more than I'm willing to pay for a console, and finally the high failure rate.
I'll think more seriously about taking the plunge when the 65nm chip falcon models are out and plentiful, the premium drops to at least $300, and a couple of the games above are $30 or less.