Well I think you've hit the problem. $60 for a good game isn't unreasonable; I'm something like 75 hours in with MW3 and more like 120 hours in with Skyrim. Less than a dollar an hour--some significantly less--is definitely a good value.
But that hinges on it being a good game, and there's little way to tell short of your, errr, previews. Dragon Age, for example: Fantastic game; easily worth the money and more. So naturally I was ecstatic when Dragon Age 2 came out -- but then horribly, horribly disappointed in it. It's similar with the Final Fantasy games; the early ones are great, 7 is of course one of the better games ever, I enjoyed 8-10. Twelve was good-not-great, 13 (14? I get them mixed up with the MMOs mixed in) I haven't even played through one time. I'm not even far enough in to say if it's good or bad; it's just so linear that it never captured my attention. (I really need to give it a fair shake -- I'll add it to the old to do list.)
In other words, even using a successful product as a gauge for the next product in the line is unreliable.
Likewise, sometimes there are good games that still have questionable value. Syndicate (the new one), for example, was what, maybe a six hour storyline? $60/6 = $10/hr in terms of value. Even factoring in the ability to replay it later if one wishes, that's extremely borderline. I'm actually not sure I would classify it in the "good" category either, but even if it was the value wouldn't be there.
Then there's the games where there is nothing particularly wrong, and there's lots of hours to be spent with it, but it just isn't worth it. Sports games often fall into this category. The actual improvements from version to version tend to be minuscule; people who pay for them every season are paying $60 primarily for a roster update. One may play it 120 hours and look at it and go "well, $0.50/hr right?" but the value over the previous game they already had isn't nearly as great.
The problem isn't $60 for a game; the problem is $60 over and over trying to find a game worth $60. In my opinion there are far more in the "no" column than the "yes," so that's a lot of money down the tubes even factoring in surplus value from the yeses.
In my case, it makes my purchases significantly more cautious. I've said this in several discussions before, but Steam is a good example: I impulse buy games around $10; I probably have a half dozen such games that I have never even opened. $20 requires some thought but probably happens (especially if it's down to $20 from $60). $30 is where I start wondering if I really think I'm going to get value back. $60 means I need to have a lot of information in advance, usually in-depth experience with previous games in the series, and a fuck-up like DA2 kills that goodwill outright. Publishers, as a whole, would probably make more money on me by lowering their prices. Most of them are simply too happy to hope that their game will be one of the $60 payouts and gamble a more likely income at a lower price point.