The fact that this Steam sale was far and away the greatest of all time according to Valve is sort of something I expected. I still stubbornly want it to return to the good old days, but I know it won't.
So, faced with the new reality, it comes down to this for me: I know I'm not going to get the thrill of stupidly cheap games during the sale, but it's real hard to shake that feeling that 75% really should be 85%. I know it isn't going to happen, but since it used to be the norm it just feels wrong.
The other thing that has me paralyzed during the Steam sales are these Humble Monthlies. They aren't cheap -- but they're a good deal... as long as you don't have most of them. To a lesser extent, the other Humble bundles and maybe Bundlestars. All the cheaper crap is just filler and I don't care about that as much. It's easy to skip a Gala or not be bothered that you're losing $0.30 here or there.
If this is the new norm for Steam, then I will adjust. It's fine. Like many others, I won't buy as much, but I don't mind paying a little more for stuff I actually want. I know I'm not alone in that and that's probably not good news for some developers, but the good ones will be alright. Steam Sale revenues will continue to rise at a higher rate than the number of games sold.
As far as getting that real-deal thrill... Glitches are the new 85% off. Knowing Valve, I don't think those will be going away anytime soon.