As a kid and later college student I didn't have the money to buy consoles. Now is the perfect time to buy them at launch. (Well close after anyway)

I don't think it's bad, but I haven't bought a console at launch, yet. I think it depends on the prices and whether there are games for it you want to play.

I'll wait at least a year after release before I purchase anything. Besides, I doubt any of my friends would be getting them when the release as well.

what was wrong with the Wii launch?  out of the past 6 console launches the Wii is the only one that really made sense buying at launch

High Ps3 price point, Xbox 360 failure rate.

NO

I think it's good for other people to buy consoles at launch, because then they eventually get a price cut so I can buy it.

well I buy Nintendo consoles and I've never had a problem with any of them. but I would not trust the other companies but even then they might die lol

I bought a 360 one or two years after it came out but it still died

I bought the WiiU at launch. Whilst I have no regrets at all about this I still haven't stopped playing the PS3. I think this is because although I love NSMBU and Nintendoland, I'm still working on PS games and the WiiU doesn't have enough games yet to steal my attention.

All depends which console you are buying:

Micrososft = no as RROD on launch models.
Sony = maybe as can have issues but usually because of being dead on arrival and not dying a week or two later.
Nintendo = yes as you will be very unlucky for nintendo hardware to fail early.

However I expect microsoft and sony to mature eventually and be up to standard day one.

By all rights PS4 being Sony's 4th console should be almost perfectly made at launch.

Next xbox could go either way, but I think Micrososft have learnt from their mistakes in the past.

Bad, unless retailers have good bundles. I picked up my Vita, 3DS and Wii U upwards of $50+ off the MSRP at launch. Granted Australian MSRPs are ridiculous to begin with.