This thread has blossomed with great explanations, and everyone who has contributed an idea is correct. It's hard to line up one specific thing that's doing us all in on the used market, but I think a ubiquitous world-market like eBay has a lot to do with it. I also subscribe to a related comment, that eBay didn't jack the prices up, it just revealed what they were really worth, and the only reason they're bringing in all that money is because the people out there who are willing to pay that much are setting a steep precedence for the rest of us to have to follow. Of course, I think the ultimate culprit here is human nature. The spirit of competitiveness, greed, and eliteism forces many to pay unwarranted prices for gear that supercedes the spirit of usefulness and craftwork. A pity, really, but as I stated originally, I think everyone that's ever paid the big bucks for a rare pedal is contributing. I'm guilty of if.

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Am Std. Strat (Lace Sensors Gold/Silver/Blue, GFS Delay Mod Board) -> Pignose Detonator > Ibanez TS7 (TS9 setting) > Ibanez TS7 (Hot setting) > Rocktron Vertigo > Danelectro Reel Echo > Vox Valvetronix AD50VT

I guess what I want to know is, if some contributing factors were eliminated, which ones would have the largest effect on lowering the price of recently skyrocketting prices...

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"All I can do is be me, whoever that is." Bob Dylan

Some of my gear...

Probably limited supply. If there were comparable reissues, the prices would come back down.

Unfortunately, most reissues are scorned by players and collectors alike, such as the Dunlop Phase 90 and the Whammy 4.

Has the TS-808 reissue had any impact? I think the collector value of the original TS-808 is just too great. Plus, people like Keeley will say that the TS-808 reissue is not exactly the same, and that it needs to be modded by them to get the TS-808 sound.