There are ways of getting very close to the mid rate that are not all that difficult and worthwhile for those importing regularly. I have a separate debit card account with Citibank that has zero fx fees, the exchange rate uses the official Mastercard rates (pretty close to the rates you see on Google). Case in point, I made an order with atmos in Yen on 29 March. Citi converted it at 66.15 vs 66.33 on Google for the same day.
I haven't been happy with Citi on my recent chargeback debacle so I'm switching to the same type of account with UBank (part of NAB). ING Direct and Macquarie offer similar debit accounts and there is also a new CBA credit card with zero FX fees for example.
Even if you had to pay the standard 3% fx fee on a credit card I struggle to see how you wouldn't do substantially better than the ~7% implied fee you are suggesting for Yen. What you definitely want to avoid is Paypal converting the currency, you WILL get screwed royally. There is an option in the settings to have your card provider do the conversion - this should always be ticked.
Fair call on wanting to use the RRP for comparison. However, to me apples to apples would be comparing the pre-order discounted prices with EB since they are both pre-orders. The discounts are given as incentive to lock-in orders well in advance of the release. I think importing from discounted sources should save a fair bit of money off the EB price even ignoring the benefits of avoiding GST with certain online sites. Regardless, if people want to buy local to have peace of mind on returns then that's their choice.