I think the odds of Nintendo doing something (or potentially many small things) to shift the price to value ratio of the Wii to a different position are pretty good this holiday season are pretty good ...
Now, if I was Nintendo what I would (probably) do is sell the Wii, 2 Wiimotes, 2 Nunchucks, Wii Sports and give people the choice of one of 4 first party titles from its first year on the market and sell it for $200. The reason for this is simple, with more and more people who are worried about their finances, the demand for a product that a parent can buy for $200 and put under the tree and make multiple children very happy is huge right now; and even after christmas, many people will want to splurge on some "big" purchases and not feel (that) guilty after.