Ditch the tablet pad. That shaves $70 or more off the production cost. Make the Wiimote+ and a Pro Controller shell (another cost saving move) the standard controller.
Lower the price to $199.99 in April/May alongside Mario Kart 8.
Dramatically increase emphasis on digital download titles like NES Remix and increase the Virtual Console lineup exponentially. Many more SNES and N64 games should be available.
I think that's their best bet now to salvage this trainwreck.
Make a portable tablet that can handle some Wii U ports, that will allow them to recoup some of their development costs/opportunity costs on some of their Wii U games because they're probably going to massively undersell on a lot of their games.
I'd also look at cutting third party licensing fee costs, and waiving them entirely for third party exclusives.
