The Nintendo Wii will now be priced at $199.99, a $50 price cut. This comes after the PS3 was reduced in price to coincide with the PS3 Slim release, and the recently announced price cut on the Xbox 360. The Wii, which has sold like crazy since its release, is looking to expand its install base even further. There won't be a new bundle however, and new owners will still get Wii Sports with the console. With many exciting releases in the pipeline, the price cut seems to have come at a perfect time. For those that recently paid full price for a Wii, some retailers are even offering a $50 credit.