At least this guys is bundling. Where I live a few independent retailers are charging $400 for a Wii (no games), $550 for an XB360 Elite (retail bundle with Forza and Marvel: UA), and $500 (Retail with Spider-Man BD) for a 40GB PS3 and $650 (retail with MotorStorm) for the 80GB.
I know independent retailers need to make money but if they cheat the customers they lose out. I held out for my Wii cause of the retailer I mentioned and found it at Circuit City for $249 so they lost out.