The PS4 is the cheapest at launch a Playstation console has EVER been, at least in the UK. I've preordered it, I'm putting money away for it. £349 is an absolute steal considering the hardware and the no-DRM stuff.
And the XV and the Kingdom Hearts and the many many titles I want to play (Destiny, Infamous, DriveClub (free with PS Plus which I already have), the list goes on but my heads still reeling.
I get what you're saying about the price though. We get ripped off in Europe (especially in the UK) but you Aussies really get shafted, it's ridiculous. Why are consoles and games so much more expensive over there?