What Price Determines a Quality Game?

So, it seems the latest buzz is that Final Fantasy Tactics: The War of the Lions is to cost £10.99 ($15.99 USD) on the iTunes App Store for the iPhone and iPod Touch which has prompted quite a few cheers from the gaming community as they see it as a worthwhile price, justified by a quality game.

Another argument/discussion going around is that there are too many games being pumped out at relatively low prices that don’t have that AAA quality, even though the standard of iOS games are improving, from what I can see, more are recognizing the iPhone/iPod Touch as a viable gaming platform.
PSP CoverThe thing is though, does a higher price equal a quality game? There have been some right donkeys in the past which have had big budgets, let’s just mention Duke Nukem Forever as being a game not worth full price and be done with, but then, that’s a case of overpriced quality. I think the question is, how do you put a price on quality? It’s a question that’s been asked throughout the ages and still relevant today.
We all complain about how games aren’t worth the full £39.99, £29.99 or £24.99 recommended retail prices and with the internet prices generally being a good chunk less than RRP/high street,  does that make the price irrelevant to the quality? As the game in question here is the new Final Fantasy title on iOS, do you think it’s worth £10.99 because of its “quality”?
Smartphones such as the iPhone and Samsung Galaxy S have brought mobile HD gaming to the masses and although there are free (usually ad-supported) versions of games and software, the paid version tends to cost around £3-£4 and in some cases, the cost of software applications exceed as much as £19.99 which brings into question and what could be considered a better and more generalized enquiry, does software for mobile devices have to reach triple A quality in order to justify a premium price?
Final Fantasy Tactics: The War of the Lions is already available for the PSP from such usual places like amazon.co.uk and Play.com with the iOS version on the iTunes App Store soon.

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