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I have a buddy trying to get a Wii. He can't because they're sold out everywhere.

The Wii isn't about to get a price drop. Nintendo can't meet demand -- what would be the point of dropping the price if you can't increase the number of units sold?

Perhaps in mid 2008, if Nintendo can drastically increase production, we'll see a price drop. But unless there is a production increase, I think it's unlikely. Considering how many regular people want or buy the Wii, a price drop will likely have a huge effect on sales.