The Xbox 360 launched in 2005 at $299 for the HDD-less model. It had cutting-edge tech for a console in '05 and DVD playback. Of course, Microsoft lost money on every system sold.
Wii U will be good, but not cutting-edge for 2012, also won't have an HDD or even DVD playback. The controller and probable inclusion of a game will not likely add as much to the price as some people think, although Nintendo will never opt to lose as much money per system as Microsoft did in '05.
Logical conclusion: Wii U will be priced somewhere between $299 and $399, depending on how much Nintendo chooses to lose/profit. My guess is $349 for launch, giving it the flexibility for a $50 price drop holiday of 2013 if needed.







