I remember games being about $40 and $50 in the mid 90s, especially when the N64 launched. With increased development time, hardware, and disc capabilities, the price of individual games should actually be higher than they are but they need to move copies to make up for the loss they take on each console sold. The price of games will not drop, even if every publisher resorts to digital copies only because there's an accepted price range for video games that consumers are willing to pay.
EDIT: Wow, so there's a few more titles releasing this week. Looks like the two best titles are Rock Band 2 for PS2/Wii and Rise of the Argonauts.
Dec. 14 - Dec. 20