if your mainly talking about games one fo the risks coming in late is the death of the online gaming comunity that was a part of it. but really its only a rip if you end up not enjoying it. 

I think if your patient the late adoption is great , it's alot easier on the pocket too.

Early adopters such as myself are important to the survival of electronics. Think about it. If it were not for people who are willing to bite the bullet and shell out money for these systems they all would fail. Early adopters have the strongest hand in who wins the console war.

I would not say silly, there is people that enjoy being the first posessing something new, and since they can afford it, I do not see anything wrong with what, plus they help to reduce the future price.

They help to move the industry.

 There are three parts to your post. That's why I broke it down.

1. I don't believe that. Companies would adapt and just slow down and only release products when they can afford to release them at a more reasonable price.

2. I also don't agree here, just as with other products, console manufacturers would lower the price and in the future, their next consoles would be manufactured so that they can launch at a more reasonable price. I think that's true anyway after the poor launch of PS3.

3. I do agree with you here how the market is set up. If a system can get out to a good start and sell well, they can likely get more 3rd party support and this will continue to help them in the future of their console.

@OP
I'm a late adopter too, but DON'T mock early adopters or persuade them to become more saver and prudent: they are working for us!!!

Let me say for the record as the original poster that I don't mean "silly" as offensive and it might not have been the best choice of words. I guess the word prudent as used by Alby_da_Wolf might have been a better word to use. Although the rest of my opinions stand.

The PS3 launched in the UK for £429.99 BUT if you got it at the London launch you got a free 46" HDTV and a cab ride home!

I can speak with some experience about early adopting--in 2006 I purchased a Toshiba HD DVD player after it had been out for just two months. I also purchased a Wii when they first came out in Nov 2006. The success of both of these items are at opposite extremes. However, I look back at both purchases with the same fondness--I don't feel like an intellectual midget for getting HD DVD or on the cutting edge of culture because of the Wii.

Look, it's understood that when you're an early adopter that you may be left holding the bag. So if you take that in mind before you make the purchase it's not so devastating if the tech flounders. I would like to also add that being an early adopter has many advantages besides just 'playing with a new toy.' For example, in the case of HD DVD many of the early adopters who were vocal on the internet were able to actually the shape the product by ways of suggestion. It is my understanding that the same thing is happening with the PS3 today as owners of the consoles make suggestions that are sometimes implemented in software updates! (In-game XMB). If you wait until the technology has been out and taken a firm market hold it's much more take it or leave it, as in--good luck getting it changed/fixed if you don't like it. (Ipod I'm looking at you).

Another point to make about early adopting that maybe some people aren't aware of is that it's voting with your wallet. If NOBODY picks up the product..."gonna wait until it's decided" then it may never happen and that whole market may end up as a niche (SACD / DVD-A ...not a great example I know for other reasons).  So NO early adopting is definitely not silly.

They don't really get screwed, depending on when you purchase your console they get to experience the next gen 1 to 3 years earlier than late adopters...