For me deciding to buy/pre-order Alan Wake with my limited funds was a hard desician. In general I decided to in order to support development of the horror genere. You wouldn't believe some of the movies I've bought/seen as part of a sort of warped genere loyalty.
To be entirely honest there is no way to justify a 12 hour game costing $60 nowadays. This is where I come from when I'm constantly talking about cartel behavior and price fixing. While there are exceptions (I will mention one below) by and large the industry has set a policy that a new game costs $60, the playtime, development budget, and other factors are totally irrelevent. What's more there seems to be a general agreement to avoid competition, at least within the same genere. An example of this was the number of titles that good pushed up during the release of Modern Warfare 2, as opposed to any kind of price lowering competition.
One of the big defenses of the game industry is that they provide the best bang for your entertainment dollar. While at one time this might have been true with games that clocked in on an average of 40 hours it seemed, with the proliferation of short games I feel that this is rapidly ceasing the be the case. Especially when you consider that even with some short games you see people argueing "well they start off slow". I pretty much maintain "Heavy Rain" is not a game, but for whatever reason it's being considered one. Along with it's short play time, people have commented on the amount of time wasting that takes place in it, waiting for things to happen.
What's more, the $60.00 price tag is deceptive with the way DLC is being exploited. It's impossible to tell whether your even getting access to everything on the disc you buy. Heck, despite protests to the contrary it seems a common practice now is to take a complete game, slice pieces off of it, and then sell them later as DLC. Thus to get the entire experience you might very well be paying another $20 to $30 on top of what you dished out to begin with.
Looking at Alan Wake for example I notice that it began development as a "Sandbox" game which probably would have had a lot more playtime and things to do. The workable cars, which serve no real apparent purpose, are however still left in the game. While I'm not psychic things like this tend to make me wonder if there will be additional content released like "Alan Wake racing" add ons (given that racing is a side activity shared by pretty much all sandbox games), or perhaps a multiplayer mode similar to Left 4 Dead with a handfull of flashlight wielding survivors taking on hordes of those possesed people (some of whom might be other players). I can't predict things specifically, but Alan Wake despite it's short length seems to be jumping on the DLC bandwagon with both feet and it's not even released yet. Take a look at how many Avatar accessories and the like are already on XBL... most games don't even have that much DLC in general (even if it is Avatar wear). Granted I do not "know" anything, and the above features are just for the sake of making an arguement (what kinds of things there might be), but right now Alan Wake seems like a game with a lot more content waiting for piecemeal release.
People constantly talk about the $60 price tag being "fair" due to the amount of money being spent on development, but at the same time most games never release their budgets. What's more when they do, there are big questions as to where all that money went. Generally speaking as purtyful as the graphics in a game might be, if someone is throwing 40 million dollars to human resources to produce 12 hours of content that's probably a bit much. Although this gets into arguements between sources like "Maxim Magazine" (talking about how much these dudes get paid), those claiming friends in the industry who are not making good money, and of course simple math. Not to mention of course the amount of work that is actually done and at what pace. I look at games that allegedly spent years in development, eating up millions and millions on human resources, and yet needed to see a massive crunch when the producer cracked the whip because people more or less weren't working. The key point here is that all of these costs get passed back to YOU the consumer.
On top of this you have rather expensive advertising campaigns like ARGs (for various games), and the current "Bright Falls" webisode set for Alan Wake. As cool as those things are, again the cost is arguably what they are using to justify charging you $60 (which I still feel is fairly excessive), plus whatever DLC they feel like releasing, which may or may not be developed along with the game, or simply be pieces of the game chopped off to be sold seperatly by the marketing people.
To put things into perspective, what I'm saying is that the $60.00 price tag is too high. While I feel games in general are overpriced (and yes, I've read some statements on the amount of profits made after expenses). What's more I think $60.00 should be the absolute limit for what a game should cost, with shorter games of this sort going for the $20-$30 price range if that. As a few articles, including some on The Escapist go, it's been shown a LOT of money can be made simply by selling games for $5.00 a pop. If a criminal syndicate in Brazil can build shopping malls financed by pirating games for that much, I'd imagine a game company/producer could still make a reasonable profit... and honestly I'm not suggesting anyone lower their prices that much officially, just using it as a counter point.
Okay now for the "exception" I pointed out, let's look at a recent game of the same genere as Alan Wake, that was going for the same vibe. It's called "Deadly Premonition". DP is a mixed bag overall, it posseses a number of workable game systems, a huge sandbox world to explore, excellent voice acting... and well, some pretty bad graphics by current standards (mid-range PS-2 level). The thing is though that the game sold for $20, and included a lot
of the aspects that were cut out of Alan Wake.
Now, I suppose Alan Wake's price tag would be less shocking IF it was a sandbox game like "Deadly Premonition" (which proved what they set out to do originally is possible), and yet had Alan Wake's graphics quality. I can't speak for the gameplay elements, because I haven't handled AW's yet, all I can say is the DP's are fairly old school, and while they might seem bad at first to people used to more current games, are actually pretty solid. Give Alan Wake three or four times the playtime due to side missions and such, and well...
Of course I could eat this, and be screaming "OMG the best $60 I've ever spent". See for all of my comments, I've already committed to buying AW due to the genere, forgoing other games. I put a lot of thought into it though. But then again if I didn't eat my hat with some frequency I probably wouldn't be gaming much at all... which I guess is what the game companies are relying on. Though I admit there are a lot of games I specifically have not purchused for very similar reasons.