So I was flipping through Steam today and discovered that Bioshock was recently lowered to $29.99 (a great deal).  Out of curiousity, I looked up the price of the Xbox 360 version and discovered it was still at $59.99. People are already paying $10 more for a new console game than a new PC game.  Now they aren't dropping in price at all while the PC counterpart is half-priced.

Add onto that overpriced DLC that's usually free on PC, and the fact that you are paying more for a technically inferior version (Worse graphics, resolution, lower server caps, worse controls, lack of mods, worse online), and it seems to me that console game pricing is starting to get out of control. 

I was also shocked to discover that the Metal Gear Solid 4 Special Edition is $85 (a nearly 42% markup from standard retail) for very few extras. 

Most reports claim gaming is a very low risk business (it's not hard to make a profit on your investment).   Are we letting console game makers get away with a lot higher pricing than they should be able to? Are we being ripped off?  What are your opinions on this?

That's why Nintendo was smart to create a system with less tech so games cost less to make and to buy.

I think it's getting out of hand to a certain extent. Gaming has become so popular that people are using more and more expensive means to make better games. Wii games to remain the the regular price range of last gen, while 360 and PS3 games seem slightly more expensive. (Due to the bigger development prices.)

Another big factor is the large decline in PC gaming over the last few years. That could possibly explain the lower price.

Yes, a little out of hand but I guess it is just marketting.
People when they usually think of gaming think of NIntendo Sony MIcrosoft... not a pc.
PC Gaming is not so popular in the past few years so pc game makers know that they must invest on the consoles(b.c it is so popular now a days) and give good deals to the last of the pc gaming users.

Like Nintendo providing a piece of plastic and a demo disc and selling it for $20?

It's the consumers fault, really. Why do you think so many "Special" or "Collectors" edition games were released last gen at $60? To test if we were ready to pay for new costs. And millions bought them (heck, even I'm guilty!).

Besides, aren't PC games cheaper and easier to develop?

ever buy a Neo Geo game?

I blame stagnant wages, as well as Microsoft and Sony for not having the balls to keep the prices at $50 like Nintendo and PC game makers did. They act like they're charging a premium for a real next-gen experience or whatever because they have higher resolutions, and it's costing them because people aren't falling for it. And besides, PC games look better and cost less.

Games are too much money, so I can only buy the ones I really want and then have to rely on price drops in the future.

People who don't remember paying $100 for an N64 game ITT.

:)

Yes, PC gaming is a little cheaper to develop for, but should that really be an excuse for the prices of DLC and lack of discounts over time?  I mean hell, I just bought Prey for $5 and people are paying $10 for 3 Halo maps...