Sharon - I appreciate your comments and I agree, to a point, that you can cut corners and make up some of the difference in the exchange rate. For example, we were planning to fly into Munich, spend a couple of days, then pick up a car and drive to Berchtesgaden and then up the Romantic Road and fly home from Frankfurt.
Hotels in small towns cost less than in big cities. But still, a €60 hotel would be $90.00 - and through all my research, €60 hotels are hard to find. Then you add the price of food - well, you see what I'm saying. We fully intended to buy food at grocery stores as much as possible, but there is a limit to that even.
It just came down to the point that my wife and I decided that it was not the right time. Heck, if nothing else, we can continue to save and go next year. The exchange rate may not be any better, but we would have more of a "cushion."