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At this point in time there is little that Microsoft and Sony can do that will have a meaningful impact on the Wii U ...

For the first year of its life the Wii U will be selling primarily to die-hard Nintendo fans and early-adopter/hardcore gamers. These people will either already own a HD console or be uninterested in what they offer, so a price reduction or game release will (probably) not impact Wii U sales.

If the Wii U starts off selling to the mass market consumer to an extent that PS3 and XBox 360 price cuts have an impact on sales, the Wii U's sales in its first year will be unbelieveable.