Gods, people who always buy a game new must have lots of disposable income. I think I feel pangs of jealousy.
In answer to the question, as some have said I prefer to wait until a price drop (which doesn't always come in a console's lifetime, unfortunately) and have sadly resorted to buying used a bit more often than I used to.. particularly in regards to PS2 games.
To be honest, I personally don't see most games as worth full retail price. They're either disappointing, or too short, or aren't even a full frickin' game! I've also been burned on a number of "gotta get it now!" games, such as Metroid Prime 2 or Zelda Spirit Tracks.
I will, however, plunk down good money right at the get-go for a game I have strong confidence in. Ghost Trick, anything Phoenix Wright, Saints Row the Third.. so forth. It's a lot less common, and I've begun to buy far less modern/new releases, slowly changing to play older games more often. Whether stuff I've owned and simply still play, or retro releases such as GOG.com or some fun indie stuff like Steam.
I just don't have the money to pay what they want for these games anymore, and I'm willing to bet a lot more people are in the same situation and either don't say anything or the developers just haven't realized.