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Dunno, Tancred. I certainly think they put out so much so quick - rules are VERY difficult to keep up with. I had to maintain a subscription to White Dwarf or not know the army I was facing. New Codexes all the time, including super-specialty ones like the most recent Battle for Armageddon. Plus, they jacked up the mini prices a few times in a row. A single space marine termie will run you in the $11 range these days, and a character will cost ya $15.
And I don't like their "28-35 mm" scale, which is truly more on the order of 40mm. But, the figs do look awesome. I paint individual bullets on gun belts different colors and usually shade at least 3 colors on such things as goggles.
And, at GW tourneys you can only use GW minis - new rule about 1 yr ago.
Most of all, the factory in TN where they crank out their minis is not exactly the most expensive thing on the planet to run.
GW has a great game, a wonderful development/marketing team, and some of the best looking figs. But they are in fact greedy bastards to the max.
No discount ever in a GW store, BTW, which is why I'll go to the other end of the same mall and buy from a hobby store offering a 10-15% discount. And, one where you can really get a great deal if you up and say "I'm buying an army today, what kinda deal will you give me?"
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