Since the launch of the iPhone and iPod Touch Apple has pointed to the high volume of games and other applications being downloaded as a sign that the devices are the wave of the future. Many Apple spokesmen have come out and claimed that the iPhone is going to drive the DS and PSP off the market altogether.

There’s a wide range of pricing for applications on the digital distribution store; many apps are free while many others charge a mere few dollars. Some games charge more and there are some more functional apps that can cost as much as twenty to thirty dollars. The marketplace is incredibly hyped with stories of people making small fortunes on the sweat of their brow (or fingers) being talked about as if everyone’s doing it.

Unfortunately according to a successful appstore developer, it’s not exactly the gold mine everyone’s hoping for. Developer Rick Strom has several applications that are highly ranked, including one which is #34 on the social networking listing. He points out to the public that there was a general ‘race to the bottom’ as soon as the app store debuted. After all when you’re looking for a tower defense game or movie listing application, why pay five dollars when there’s one for less than a buck, or even better, completely free? Though Apple boasts incredible numbers of downloads, they haven’t said how many of those downloads are of free applications.

While there are some people making money from hard work and successful apps, Strom points out that it’s like winning the lottery: the potential is there for it to happen to anyone, but more likely you’re going to walk away disappointed.