If games do go to $70, I think I'll stop gaming.  The reason I buy now is that it's been burned into my head since childhood that $50 is the magic number.  When I saw PS1 games for $39, I lost my mind because, in my head, it felt like they were almost half the price.  I still buy games at $59 because I can fool myself into thinking that it's still in the fifties.  The second the MSRP goes up to $60.01, I'm done.

Oh, and I don't know about Canada but hear in the U.S., HD games were almost always $59.99.  They even tested the waters during the sixth gen with all of these special editions just to see if consumers would be willing to pay $59 (and we did) for games like Halo and stuff. 

Even if games do go up in price, I think we got off pretty lucky.  Gas costs four times as much as it did when I was a kid but it's still the same gas.  Beef costs twice as much but it's still the same beef.  Clothes, food, houses, etc--all went up severely in price.  If I wanted to dig deeper, I bet I could trace the high prices of everything to higher oil prices....but I won't.  Anyway, the games we get are much better  than they were but the price isn't much more than it used to be.  The quality of the content is debateable but the tech is much more advanced.  To be honest, I don't know where I'm going with this.  Hard to focus with my family calling me every 20 seconds.