I read about 8 pages of this thread, and I will say that I am really interested in the discussion here, and that everyone has really good points.
I am somewhat of an avid pirater, it is wrong, but I still do it, to save the little money that I have. I don't spend money on Video Games, but I spend money to pirate Video Games. I have a history of pirating for past consoles, (sixth generation and down). It's not that I don't see it fit to pay for games, I just see it that I want to save money, which may sound as a selfish reason. If pirating is possible, I try it.
Music is a given, I have been pirating music ever since LimeWire came to be, or moreso, P2P software in general. I only purchase music when an album is monumental, a perfect album, (meaning, all songs are worth listening to), deserves to be purchased in my book. I would rather pirate an album, and be disappointed, than purchase an album, and be disappointed. Also, selling albums you don't fancy on eBay grants you your money back, so it's mostly a win-win situation.
Here's my opinion, if you pirate a game, an album, or a movie, you will appreciate it less than if you would have purchased it. If I purchase a game, I will squeeze every ounce of entertainment out of it, because I purchased it. But if I pirated it, I'll play it for a few hours, and if I don't get hooked in, in the first 3 hours, then I put it down and go on to the next. When purchasing games, you're more prone to getting every dollar and amusement out of it, rather than if you would have pirated it. I make sure that I take every and any opportunity to pirate a product. I only see movies that I have a strong relationship with, (meaning, a series, or a company), if I am slightly iffy about a film, I'll wait until a DVDRIP is uploaded in torrent form, then I watch it. Today's Video Games are more difficult to pirate, and so I purchase games for the XBOX 360 and the like. But when purchasing games that were released a few years ago, you aren't losing much.
When it comes to purchasing machines and gadgets, I wait until it goes down in price and as well as popularity. If time can warrant a drop and price then I wait for the price to drop before purchasing.