The problem with the OP is that this fall no one is going to buy the Wii U instead of the PS4 and vice-versa. They are definitely competitors for consumer dollars, but not until 2014. This fall every PS4 (and XBOne) is going to be gobbled up by rabbid fanboys and tech heads who need the latest thing. Sony won't be able to make enough of them... just like the Wii U last Christmas. Once that surge is done, the real demand will be revealed and the battle for the lucrative mass-market will begin. At that point the mainstream buyer will be cross-shopping consoles and price will be a major factor. This is why I would expect a price drop in spring 2014 to coincide with the MarioKart release.
There are other flaws with the OP, but that's mostly just natural bias that comes with being King of Playstation. PS4 is not the cheapest Playstation because it is the first with an annual fee. PS4 doesn't have more games, and it isn't better looking. History also shows that general consumers won't pay more for more power. They will pay more for more perceived value, but microchips inside don't deliver that. The touchscreen is about as likely to make something seem high end as the processors. There is something to be said for the Sony brand name, but the Wii/PS3 debacle shows that the public can be convinced anything is worth more if it catches their imagination.
There is potential for a fall Wii U price drop, but it has nothing to do with what will be a sold-out PS4. It's the battle the Wii U is fighting with itself. If Nintendo finds that consumers will not pay $299-$349 for one of their consoles no matter what, they may need to drop the price. They may need to do this to move units because they simply aren't selling, but not because people are buying PS4s instead. 2014 is when the console war will begin in earnest, but Nintendo desperately needs to build an install base this fall if they hope to have any 3rd party support and more importantly any market traction. People buy what their friends have, and if no one has Wii U's by 2014 it will be a hard pitch to get them to start then when PS4s and XBOnes are readily available. I could see a desperation price cut to $275-$299 for Deluxe Wii U's if sales aren't improving, but if sale volume is moderate I would expect Wii U to get its price drop in the spring.
