I don't and won't pay more than £45 for a new game. After day one, I wait until they hit £30 to buy.
I'm pretty much the same. I'll go up to £50 for a launch title if it's something I've been really anticipating but anything else has to drop to £30 at the absolute max before I'll purchase it, even then it has to be a game I'd always planned on getting. Anything else I'll probably wait until it's under £20 on a PSN sale.