For the console, yes, but when you factor in buying a newly released game like a DK or a Mario Kart, that's another $50-$60.  Granted, you're also getting Mario and Luigi in the deal as well but when you compare the situation to past Nintendo consoles it's quite expensive:

Gamecube (at this point in its life):  $150 + $50 for a new game.  That's a total of $200 for a new consumer to take the plunge on a Nintendo console enticed by a new game they were awaiting.

With WiiU, you're now paying $300 + $50-$60 for a new game.  So a new consumer is currently having to pay a minimum of $350 in the same scenario.  Nintendo has never been in this position before and I believe that's the main deterrent regarding WiiU.

At the very least they need to bundle Mario Kart 8 for $299 but truthfully a "$249/w MK8 bundle" is really what they need to deliver much more desirable results.

Vgchartz also has a habit of undertracking Nintendo hardware/software. Last year NPD showed they undertracked 3DS in many months and Wii U in December, Wii U was also undertracked In France, and Pokemon was undertracked and still may be. This site overtacks many times but also undertracks many times so until we get NPD data or word from Nintendo this is all we have to go by. 

1 million should be a given since its already a quarter of the way there assuming that Vgchartz is correct, 2 million should be possible as well. Do u think Zelda will fail to sell 2 million as well? It seems kinda strange u think only Mario/Kart/Smash will be the only 2 million sellers.

They undertracked the Wii U for December, but other than that it seems like a fairly consistent overtrack of hardware and software. I remember people getting excited last year when Pikmin 3 and LEGO City seemed to provide weekly hardware boosts that weren't borne out final numbers. 

There's a chance that Zelda might do under 2 million, but you're probably right on that. I don't think it will sell much better than Wind Waker did on GameCube if at all though. 

The Wii U is just a mess of a console ... Nintendo can't even sell Nintendo software on it consistently. 

Ah, good point.

And yes, $250 would indeed be the ideal price once Mario Kart release. The thing is though that the console and software may sell well even at $300 by the time Super Smash 4 and the holidays arrive. In addition to making a lesser lost/actual profit on each system sold.

Needless to say they've put themselves in a tricky situation here.

What Wii U software has been majorly overtracked? I know 3D World was by a decent amount but nothing else comes to mind.

I would be extremely shocked if Zelda sold under 2 million. Wink Waker sold 4.6 million on an install base of 22 million and that was the most polarizing Zelda ever. Even if Wii U lifetime sales only amount to 10-12 million Zelda/DKC should pass 2 million.

3D World was not overtracked IIRC, Nintendo said it had sold 1.95 million by December 31, an here it is at 1.85 millions almost in march of 2014.

What has been greatly over tracked is the 3DS, the Wii U not that much.

I just noticed ur stealth edit

Wii U is certainly selling poorly but Nintendo software is selling reasonably well on it. New Super Mario Bros U is on the verge of 4 million, Nintendo Land close to 3 million, Super Mario 3D World almost 2 million, New Super Luigi U & Wii Party U over 1 million, Wind Waker HD & Pikmin 3 almost 1 million and Donkey Kong Country: Tropical Freeze 240k in 9 days.

Could it be better? Yes, of course It could but when u consider the hardware has sold less than 6 million these sales are pretty good and will continue to grow as the install base grows.

Last week I've got my Zelda Wii U in germany for 199 EUR discounted from 299 EUR. I asked the clerks how they make money on it and if Nintendo is subsidizing. They confirmed this. Nintendo tries to clear some distribution channels and they guessed that some new SKUs will appear.

As the majority of the german retailers are still selling Wii U Bundles for about 270 - 299 EUR this might even be a test on behalf of Nintendo.

At this point the price was down for about two weeks at least and I was worried that all Zelda Bundles or any Wii U would be out of stock for this price (the "mother ship" online was). So I was shocked to see that the retailer where I've got mine still had plenty supply. BTW: was the day DKCTF was released...

Can't wrap my mind around this. It's not that buying a Wii U is catching a falling knife. It's a great console.

But Nintendo has some really bad press within the last months so it will be a long uphill battle for them.

Actions like shutting down WiiConnect doesn't help build confidence in them on the consumer side... . I also wonder whose did the "clever" decision to shut down the Wii Channel long ago. Besides having no access to the playtime stats - it was Nintendos own advertising channel...

A lot of these games are bundled with hardware, for example you can't even buy a new Wii U without Wii Party U in Japan even if you wanted to unless you find deadstock inventory of the original SKU. It's a bit like Sony fans touting Knack's sales. 

The GameCube was selling more Nintendo software at around the same 6 million number as the Wii U is (even things like Rogue Squadron II were moving great by comparision and Pikmin 1 was outperforming Pikmin 3).