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They might as well just throw everything and the kitchen sink at the system this holiday.

Wii Sports U + Wiimote + nunchaku + free digital download of Zelda: The Wind Waker HD (limited time offer) + 32GB storage

$299.99 this fall, throw as much staff as neccessary to get Mario Kart U out this holiday too (put all of freaking EAD on it if that's what it takes). 

I think PS3 drops to $199.99 this holiday with a game bundled, 360 will probably have some crazy bundles too, these are the bigger headaches for Nintendo.

The PS4/720 early adopter is likely not a big Nintendo fan to begin with, their favorite franchises are more likely to be things like Call of Duty, Battlefield, Madden NFL, FIFA, etc. which don't resonate that well on Nintendo platforms. So there's not a ton of competetion there IMO, these are just two different markets. 

What's killing the Wii U in part is that parents/kids see the PS3/360 as cheaper and with a far wider variety of software and tons of cheap titles. You can walk into any Best Buy and find tons of pretty darn good PS3 or 360 games for $19.99 a pop. I got Soul Caibur V, Uncharted 3, Lego Star Wars Saga, and God Of War III all brand new for $19.99 a pop and could pick up another PS3 (160GB model) for $199.99 if I felt like it.