Yes, you are right. it is frustrating that things are going too easily for Nintendo. However, unlike MS and Sony Nintendo's only business is gaming so they /have/ to generate a profit. Whereas with MS gaming is a small fraction of its business and it has shown that it can afford losses and with Sony gaming will not be profitable this generation.
MS is offering gamers the most value out of the box this generation, no doubt. Nintendo would lower prices, most likely, if they could even keep up with demand. If Nintendo was producing 3 million units per month, you can bet your bottom that it would probably hit 199 soon or get better bundles. The Wii bundle you described is a store bundle as Nintendo isn't bundling anything like MS is.
So basically, the biggest issue is that Nintendo cannot drop prices while they struggle to keep the system in stock. With a publically traded company, share holders could literally sue them if they make moves that are /clearly/ not in their best interests as dropping the price would be. Until prices drop, don't expect Nintendo bundles and don't expect store bundles to be priced well since stores are virtually assured they will sell and they will sell this week.
