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Well, to my way of thinking, books are still discretionary luxary items. Like all luxary items, the price of books, including ebooks, will always be as high as the market will bear.
I have litterally hundreds of paperbacks, some that I bought new in the 60's for as little as 75 cents. I've seen the prices of paperbacks rise from there to almost ten bucks. The price of a new paperback still smacks me with something of stickershock.
But for me, if I want to own it, I buy it if I've got the cash. I buy my favorite authors in hardback because I'll read them multiple times and I like the weighty feel of a hardback.
If I just want to read a book, I hit the library or the yard sales. Free or used for a dollar is as good a price as one is going to get.
When someone buys a band new book, they are paying for the convienence of having the book right away.
Of course we all will always gripe about prices, but I would expect them to stay high as long as readers are willing to pay them.
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