Price is definitely a factor, look at the PS3 sales after the price drop. It also definitely is not the most crucial aspect. But I recently had an incident where a neighbor was over my house and his kids were playing the Wii and having a blast, and he asked how much it cost, estimating 400 to 500 dollars. After being told it was only $250, he was quite happy and ended up purchasing it for his kids. You'll see the power of price after the Wii drops to $199.99.
My Games of 2011:
The Legend of Zelda: Skyward Sword
Elder Scrolls V: Skyrim
Super Mario 3D Land
Uncharted 3: Drake's Deception