I usually buy, but sometimes, like you, I will rent some games if I am unsure of their gaming quality (or just really bored and don't feel like spending a lot of money).
i buy everything, renting around here is expensive and sometimes i dont get time to play the game within the 5 days i have it and if i do buy the game i look up vids and everything on it beforehand to make sure is decent, and if i buy it used its cheaper
I used to rent, because it's a good way of telling whether a title is worth your money, as some stores have only partial return policies where you don't get all your money back if the game case has been opened. But then the Hollywood Video near my place closed down, so I just watch reviews on Gametrailers.com.
I never rented mostly because I find it a bit off. I need time with my game, to learn the ins and outs, to have the freedom of time on my side when I'm achievement hunting.
However, renting is also good for games that you just want to get over with, not spend money on, and just get the achievements.
I know Achievements are a weak argument, but they're something to consider. Plus before my gaming status was "Industry Analyst" it was "Achievement Hunter"...
I should probably keep that second title... oh how i love that "bleep-bloop"
I recently downloaded Starcraft 2 and loved it soooo much I have bought it, should be here soon, cant wait, and I KNOW its £30 well spent.
I also recently downloaded D&D Daggerdale, and its the biggest pile of poop that they are selling for £30. Its a badly ported xbox game and even still has xbox icons on the PC version > Its also not really true to the D&D style, with pre-determined chars and horribly clunky interface. I will Buy daggerdale for £5 for the xbox, it will be a fun lil arcade game.
Sometimes I rent games to see if I like them, sometimes I just buy games. I'd rather pay five-ten dollars to rent a game for a few days to test it rather than buying a game for fifty dollars that I might not like.