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Wait until Wii isn't completely sold out in two of the three major markets 6 days out of 7, and then maybe we can talk price cut. Until then, Nintendo would just be lowering the percieved value of their console, and creating zero impact on their sales.

My expectation: in Q3 2008, Nintendo will release a new Wii bundle with Mario Galaxy (or possibly some other game) at the $250 price point, but keep the Wii Sports bundle on the shelves at $230. What this does is lower the percieved value of Wii Sports (which by that time will have inherently lowered percieved value due to market-flooding), and keep the percieved value of the Wii console itself at the same level.