"So it could run up another 33% from here, do you think there wil be a pullback soon?"
No idea. It's a great company, they don't deserve to be cheap but they also can't go up 33% every two months.
"THQI is not putting anything on the PS3 so any limited supplies of PS3 will not affect them"
Not true. They cancelled Smackdown on PS3 because of limited PS3 quantities. That's lost revenue. Saint's Row on PS3 will either be delayed or cancelled (depending on when the sequel is due), or it will sell into a very small install base, because of limited PS3 quantities.
"What would you consider a bargain for a company in this sector? What would you consider a bargain on ERTS or ATVI?"
Good questions. I don't have a clear answer, and even if I did it's irrelevant. The market will decide. I do think this cycle will be a little different from the last one. From personal experience I see a lot more people renting games and going for the cheaper experiences on Xbox Live Arcade and DS Lite, none of which benefit the major publishers. We've yet to see the real impact of the high costs of 100+ man teams. Costs are going up faster than sales, even factoring in $60 at retail. You could call me cautiously bullish.