I look at it as a luxury to living. There's no waste in such thing. You enjoyed it. You had your time with it and now because they're out dated are waste of money? No, i don't think so. I don't have any console now but number of game i bought(PC) and how many G-cards i changed for better performance, i think it would be a great deal of cash. And i do it if i go again from the beginning.
Don't judge you're self now. Try to think as you have see a new game at the store. Now what?! still wanna buy it or it's waste?
That's a very positive view on things! However hard it feel's losing all this money on ur entertaiment it was worth it!!!
I'd say most of my games were a waste of money. Really the only games I can honestly say I've got my moneys worth from would be the GTA series, Guild Wars, Kotor I/II and Call of duty. Besides that the rest of my 60+ games for the ps2 were a waste of money + xbox/360/pc/wii/ps3 ect.
However hard it feel's losing all this money on ur entertaiment it was worth it!!! 
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