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painmaster212 said:

Then i look at how low of costs it takes to create a pair of Nike/Jordan shoes and they turn around and sell them for $160 to $260 per pair and realize how lucky we all are to have games selling for $60 (even though alot of them are not worth that)


Well..yes and no.  Costs to make a products (materials, labor etc.) is a major part of the price is, but demand in market shapes it as well.  I think the gaming industry would charge $100 for game (ask NEO-GEO) but people simply wouldn't go for it.

On your example, I buy a pair of shoes for $20 (seriously, people spend $100+ on trainers!?) and they last me a good five years of use so per hour comes to fractions of a penny for me.  Compare to games which can vary from several dollars an hour to pennies an hour depending on game.