If I had to bet on the price of the wii I would bet on $199.99. In and interview with GameDaily BIZ Nintendo's Satoru Iwata said

"What we've been repeatedly saying is that it's going to be an affordable price point, and when we say affordable, you may want to check our past records of price points, launching price points for any past hardware... I think you'll agree that we always come up with an affordable price point. So when we announce the Wii price point in the near future, I believe you are going to say, "That's an affordable price point." Full artical

With that being said I went back and looked at all of the release prices of all previous Nintendo home counsels and they have all been $199.99. I think Iwata gives us a hint as to what Nintendo plans when he said you may want to check our past records of price point. So wheres my bookie? I would like to place a bet.