Interesting topic, Bal!
I think another variable to the perceived value question is the target audience.
Internet Marketers don't mind spending $97 or more on a convincingly promoted ebook (or membership, or e-course, or whatever). As you said, their brains have been trained.
But I do not believe that's true for all consumers. I think the majority of them DO go into sticker shock. They see no difference in value between an ebook and a physical book (if anything, they think an ebook should be less!). So they balk at spending more for an ebook than a physical book. All the "instant access" and "no shipping fees" promotional language in the sales letter won't convince them otherwise.
But perhaps the "free bonuses" and "money back guarantees" will. You don't get any of that with physical books... and
if the bonuses are genuinely of value, they will convince a percentage of people to pay more.
For niches other than Internet Marketing, though, I think the ebook prices need to be lower (bonuses or not) -- more appropriate to the target audience.
Internet Marketers need to remember to think like their prospects as they branch out into non-IM niches with their info products.
Perhaps marketers are afraid to price their ebooks lower because they'll get fewer affiliates interested in promoting them. (Which means more work for them to get more sales.)
I guess I'm getting off the point a bit, huh? Sorry 'bout that! Again, great topic!