Agree with the comment that the price war is between the 360/PS3 - not the Wii. As far as Im concerned, the 360/PS3 do the SAME thing (and yes, I don't care about BluRay, and would prefer a cheaper PS3 without one), so the 360 winsout being significantly cheaper.
Consumers obviously perceive the Wii being great value at its current price point - we can see that in the "sell out" sales. So it doesn't need to drop in value... in fact, Nintendo's biggest mistake may have been to not price it at $50 more. Many people would not then buy it, but it may still sell out - so its wasted money for Nintendo.
There is no perception that the PS3 is "good" value at its current price. At least, that is the best scenario/explanation for the current sales - the worse explanation is that people just don't care (possibly true, with lack of killer software).
Gesta Non Verba
Nocturnal is helping companies get cheaper game ratings in Australia:
Wii code: 2263 4706 2910 1099
