Before we see a price cut chances are we'll see a pack in of some sort. Galaxy? Zelda? Who knows if any probably the latter as it doesn't sell as much as galaxy. We'll probably see colors announced at this E3 or the next TGS either or both really, and colors/new models always spike sales for at least a few weeks.

I imagine we'll see colors & a pack in and then see a price drop somewhere in 2009. Edit: Hell they could even decide to beef up the internal flash memory in later models increasing perceived value

if demand dramatically dropped of, then they would do a price drop, otherwise they will continue to rake in teh monies.

Until next gen.

It's such a hard thing to predict. It depends on many factors, which a few people have already pointed out. Will Nintendo increase production? If they do, and the Wii stops selling out, they may cut the price. Will they introduce new colors or pack ins before they go the way of cutting the price?  It's hard to know. 

I just wan to say one thing right now

When sales start falling.