Deveopers are churning out more and more games faster and faster (exception Valve), and this drops the quality. There are exceptions, like Oblivion, but a lot of recent games have just been boring. Hell, I'm even bored of Oblivion now - I might get back into it if it stopped bogging down whenver it rains :/
The games I consitently return to and find myself longing to play are BF2 and FarCry. BF2 is just so much fun, there are so many possibilities and so many options, plus its against human opponents which makes it so much more challenging and interesting, because its never the same. FarCry to me has so much appeal in its game play and graphics to make me want to play it over and over.
CS:S is an alright game, but I get bored with it fast. I long for the open spaces and more tactical play of BF2 after a while. I hated FEAR with a passion. I only played it for about an hour, and sold it less than a week after I got it. Quake 4 was quite good but over too soon. I can't wait for the new C&C to arrive, that should be worthwhile if they stick to the old Westwood recipe.
I don't know about the USA, but games over in the UK have never been cheaper I think. They launch at £30+ but drop to less than £20 within a few weeks. Some of the EA titles hold price, but other publishers have been slashing prices. Worms has recently come out on PSP, I was going to buy it (at its launch price of £30), I went into Tesco today and its dropped to £19.99 and thats not an offer. There were some other PSP games down to that price as well.