"The value of an object is worth to what its purchaser will pay." Publilius Syrus
This is essentially the law of the economic world.
It is really quite simple, there are many people who felt the Wii was worth 900 dollars for months and months from launch, and up to 650 dollars even two years after launch. This could be seen by the bids on Ebay. The Wii was worth considerably more than what Nintendo was selling it for, only Nintendo and their shareholders were not reaping the rewards; it was re-sellers on ebay. Considering that, and the fact that the 3DS seems likely to be be valued at $400-500 at least, by purchasers from resellers, I see no reason why Nintendo; a public company who is accountable to its shareholders, shouldn't raise the price of the product. It will sell 4 million units this fiscal year at the supposed $250 price (probably 250, keep in mind that DSi XL in Japan cost 20,000 yen until it price dropped to 18,000, and it costs $169 here), but it wouldn't sell any higher number of units at $200, or $100, or $50; it would probably still sell 4 million units if it were priced at $400 USD. It has a unique feature that no other product on the market has - projected 3D.
If Nintendo made a product that they can sell at a profit, than it is a successful product. If they need to sell it at a price lower than its manufacturing cost, then they have done something wrong.