I'm planning on Pre-Ordering the PS5 as soon as it's announced as I want to get a pre order whilst it's in stock.

I've been trying to think at what price I would consider too much for the PS5 given what we actually know about it. I'm only considering this because I know it will be more expensive than the PS4 at launch.  ($400/£350, although in today's climate would've been £400 cause brexit) 

I think it will cost about £500-£550 but I'm willing to spend more than that. Considering they're not low tier gaming PC specs like the PS4/XB1 were.

So how much are you willing to spend on a PS5/XBSX?

I think preordering hardware is a bad idea this days. Almost all launches end up having some sort of hardware failure due to the rush to launch to market.

I remember when the ps4 launched at $400 CAD and I didn't buy it cause I was like, meh, I'll get it later when it's on sale. Then the CAD took a dump and those who got the ps4 at launch actually got it for $50-$100 cheaper than those who waited since the ps4 got a price adjustment due to the shit currency.

So I will probably be willing to spend $500-$600 USD on it, specially with all of the gas savings due to the virus and the oil situation. And I can get back some money by selling my ps4 since the games will work on ps5. So the games situation this time around should be a lot better due to BC than ps4 launch.

I bought the PS4 9 months after launch but there were no launch hardware failures that I'm aware of, same with previous PS consoles. 

My 2014 PS4 is on my desk next to me as we speak. My PS3/2 also had no issues I trust Sony's hardware history. Also any failures will be covered under warranty. 

It really depends on the games coming out for me. I already saved up enough cash to purchase a PS5 and a XSX. I was leaning more towards the XSX because I have gamepass and so far it will allow me to play MS first party games on release so a saving considering I have it for 2 years. If Sony comes out with something I really want to play then I may switch my initial purchase. I am not concerned about price that much as I also am willing to go 550 which is my estimate for both consoles prices.

Yup. Sony consoles are esp guilty of this. PS1 had so many problems reading discs. Phat PS2s did as well. The DRE issues. I had people return a lot of PS3's from discs stuck to YLOD. PS4 launch was plagued with discs not being accepted. Read or the system not turning on. That first line is rushed to market. They don't have time to work out kinks. Better to wait a year or 2. Besides by year 2 is when true next gen games start coming out.

I'm too cheap.... I ain't paying more than 500$ for a console.

The poll needs to go lower. The most I've ever paid for a Playstation is $250 and I don't even know what games the PS5 will have yet.

$600 is the limit. But everything more than $500 will make me reconsider whether day one buy is needed. More than $600 is instant no buy.

For the PS5... Honestly I'm probably going to wait until it goes down to 300. Unless there's a lot of games that are next gen exclusive, Switch/PS4 should be fine for at least a few years. The only must-play exclusive for me is Spider-man 2 (obviously assuming its quality is consistent with the first and it's not coming to the PS4), and I'm not willing to spend more than 300 to play it.

I could go higher for the XSX, 400 and maybe even 500... I really have to look over the games available on gamepass, and see if it's worth it to pay for an XBox/Gamepass rather than just buying each game individually when they drop to $20-30 .