Like many have stated, the early adopters and core gamers know what they want and will pay whatever Microsoft, Sony, and Nintendo charge at launch. So pre-order sellouts don't mean much.
It's the long term that matters and people who are buying PS4 and XBox1 for their loved ones will look at the 2 boxes at a store or online and see a $100 dollar difference.
Even Sony, with its 2 record selling machines, PS1 and PS2, couldn't overcome the stigma of a $600 price tag. They had bluray, a bigger hdd, all the IO devices you could ask and backwards compatibility and it was a dud. It took 7 years, several feature cuts with newly released hardware and a ton load of exclusives/incentives to win back the consumer. You think Microsoft (who is currently 3rd in sales though they likely made more money off their machine than Sony) can overcome that stigma without the high adoption rate and brand loyalty Sony had? Just because it has a Kinect in the box and a more robust online service (which are both mandatory despite consumer negativity).
To me, Sony learned their lesson. Microsoft is making a big mistake. Just look at Microsoft's tablets and phones...trying to sell electronics at a higher premium than bigger branded rivals like Apple and Samsung. People don't care about all the added functionality if they have to pay a high price. That's the bottom line.
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