This will be $199 once the new PS and XBOX comes out. Mark my words.
That will probably be not for another year though. I'm sure the Wii U will pick up more once the core titles are released later in their "opening window". Games like Monster Hunter 3 ultimate, Smash brothers, etc. I'm still holding off for the inevitable price drop before thinking about picking one up though, I'd say PS3 is almost the better choice for consuming non-gaming media with xbox becoming more family oriented with the kinect.