i always wait 2 years after launch it gives it time to get games out AND it could be cheaper with holiday sales, i got my Elite 360 for only 150 bucks on an online Christmas sale, it was when Elite was new it was even shipped to my house in one week. pretty awesome!
for the Wii it was on sale and at the store it was a tax free event so i got it really cheap too.
i'll probably wait for something similar to happen again
fuck paying the whole price for something that expensive, i only buy the games i really really like the day it comes out, nothing else.
but then again, im not rich * sad sigh *