Actual value vs. Perceived value. Nintendo could have sold their hardware for less. However, while Nintendo is undoubtedly pushing profit margins, they also don't want their hardware to appear dated when put next to the competition. Nintendo may offer a completely different experience than Apple, but both companies are still competing for consumer dollars. If there's only $300 to spend, Nintendo obviously wants that spent on 3DS. It's not as simple as saying, "Oh, cheaper is more appealing." It is but it isn't. If Nintendo sells for significantly less, 3DS looks like lesser hardware even if it isn't and could lose a sale due to the perception of looking old or dated. Not all consumers are informed. In fact, most are not.
When it comes to consoles, Nintendo can definitely sell for $300, maybe even $350. Not saying I'd like it, but Nintendo could get away with it. With the Wii, Nintendo has learned that people will pay almost any amount of money if something is desirable enough. Depending on how confident they are on the innovative features of their next console, Nintendo could innovate, profit, and compete power-wise for a fairly reasonable price.
I'm sticking to my guns. I believe the successor to the Wii is going to be a beast. While I think it should launch in 2011, it'll launch in 2012, give or take a year before Sony/MS launch their consoles, and still be comparable in power. I'm iffy on backwards compatibility. There's a good chance Nintendo could ditch optical media. They've never liked discs, only begrudgingly employing them due to the lack of a viable alternative at the time. And Nintendo doesn't give a shizzle about our backcatalog. Backwards compatibility is not a priority for them and they'll do away with it if they can/have to and they know most of us would rebuy those games anyway. Admit it. I can. I paid $50 for each Metroid Prime game and still bought Trilogy. Even though I got it on sale, I still bought it. Why? Because. How many of us are going to buy Ocarina of Time again? They can toss in Master Quest and call it a deal, but I have that too...