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Back when the Wii was just codenamed the Revolution there was lots of speculation about the low price of the new system.  IGN (1)(2) considered around $200 and even sub-$200 launch prices!  Infact just a month before the US price was officially announced there was speculation and rumors of a price around $170

Personally I remember being slightly disappointed before launch when $250 was confirmed after such speculation.  I thought it would hurt Nintendo as a lower price like $200 would mean more mass market appeal.

MAN I WAS AN IDIOT! 

If the Wii was released at $200 that adds up to almost half a billion in lost revenue in North America alone!  A lower price wouldn't have increased sales considering the supply situation.  It would have just left a lot of money on the table.