Neo Geo sort of completes the analogy, but the games on PS3 are too reasonably-priced, and the price difference with 360 isn't quite as big. Still, it's true that both machines were/are overpriced.
The big problem with the analogy is that Super Nintendo played along with Sega's strategy of selling consoles with more power, while Wii is working on a totally different angle that is meant to attract a different demographic.
Ultimately, I think Super NES came out ahead because Nintendo worked long and hard at beating Sega at its own game - better graphics (DK Country) and marketing towards teens (Play it Loud campaign) - plus Nintendo had a good reputation and Sega made a few mistakes (costly add-ons).
Wii is coming out ahead because Nintendo has a totally different business strategy from the competition. Wii isn't judged on the same criteria as 360 or PS3 at all, and that's what makes it so unpredictable.
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