I've always waited for a pricedrop before purchasing. Yes, I'm a cheapskate. I'd rather be able to buy a few more games then go thru all the mayhem and inflated prices seen at launch.
Word. But I'm not hardcore about the newest anything any more. I used to love to have the latest technology but now it seems like I hardly have time to get used to Version X before Version X+ comes out. And, as Sarah noted, the new version sometimes needed more work. To me, it just makes sense to wait.