While I'm not opposed to selling items for a profit, I prefer to do so when it just happens to be something I've held onto for a while that magically appreciated in value, like my copy of Space Hulk, my Metroid Prime Trilogy, my copy of Snatcher for Sega CD... things like that that spent a lot of time in my collection, some of them unopened, that became collectibles that I could part with when I needed extra money.
Buying as many consoles as possible at launch just so they can be flipped for a profit is a dickish thing to do. Let the people that want the consoles have the consoles. When I went to buy the Wii U the guy in front of me in line was hemming and hawing over whether to drop the money on the last one they had in stock at the store I was at (this was on the morning of launch day). The clerk asked me, "If he doesn't buy it, do you plan to pick it up?" Upon hearing this, the guy said "well if he wants it, I'll take it!" and then proceeded to turn around and tell me I could have it for $100 over what he just paid for it. I told him to kindly go fuck himself, went across the street, and just grabbed one at the Best Buy with no hassle at all other than waiting in a short line. Since then, I've hated people that engage in this practice even more.