You're missing my point; you're better off charging a fair price up front for the value you're providing and then not discounting heavily after the fact. That means that more gamers are willing to buy your game at full price, and when you put it on a more reasonable sale, you aren't driving people to buy it just because it is so cheap right now.
As a consumer, of course steep sales are more attractive. I'm not convinced as a gamer, I like what they say about the product that the games industry makes.
EDIT:clarity. And spelling.
I want to respond to this, but first I just want to note that it is really nice that you are taking the time to talk this out with us, your customers. I appreciate that.
I think the point you are making in your first paragraph is interesting and holds true for me. In the old GOG model where all games were either $5.99 or $9.99, this was definitely true for me (that may or may not hold with the new price points. Too soon to tell). At GOG, I don't always wait for sales like I do on Steam. Those two prices are low enough that if I really want a game, I will just buy it. If I am only mildly interested though, I'll wait for a sale. Some games are instabuys at the $5.99 and even $9.99 price points though. I bought all of the D&D games. I bought Outcast. I bought Realms of the Haunting. And recently I bought Syndicate and Lands of Lore 1+2 (just because I'm excited for the upcoming Legend of Grimrock, which I have preordered). There are a bunch of others as well, but I won't bore you with the details. I've purchased a lot of games on sale at GOG too, of course, but because of the lower standard price at GOG.com combined with DRM-Free and bonus goodies, I do buy more games at full price here than I ever do at Steam and I do so happily.
On the point of your second paragraph, I'm still not sure convinced one way or the other about this either. I get a certain sense that games in general feel like they are of little value when they are sold for little cost, and therefore feel more disposable. On the other hand, many of the games I most cherish I got for little money. It's an important issue for digital distribution business though. Traditional pricing methods are unusual in this arena because old supply-demand models don't really apply. You have unlimited supply when we are talking about digital copies. It is then simply a matter of perceived worth of the digital product and whether people are willing to pay it, and whether you can manufacture the demand. GOG adds to perceived product value by also adding a service. A lot of what I feel I am paying for at GOG is the service to get my game working on a modern OS and to have DRM removed. I have even purchased games at GOG that I already own an old hard copy of for that very reason.