PS3 Price: I don't think it's that bad, especially since they added HDMI to the $500 model. I think that's the model to get. That said, I agree that arguments that the PS3 price is better for "what you get" are stupid. The price is still much higher than the Wii price, and that's all that matters.
GameCube drought: It's true that the system is basically dead, but this is a chronic problem for Nintendo since the Super NES days, and the company not only made it worse by pushing back and cancelling games (Super Paper Mario, Zelda, DK Bongo Blast), but it also made the Wii launch date later than it really has to be. It's a very annoying habit of Nintendo's, and if I didn't need every last dollar for Wii, I'd have purchased a PS2 by now.
Xbox 360: It's interesting, I'm seeing a lot of people pushing 360 since Sony started screwing up. I think they're missing the point. They can't believe Wii could be as huge as it is going to be, so they go with the machine that seems to have it the most "together".
The problem is 360 sales aren't even that high so far, and that's not just in Japan. As a recent study quoted by Nintendo suggested, DS has been responsible for almost all of the industry growth in North America this year - or maybe it was worldwide, but either way the point is that 360 is making a very small impression on the industry so far.
Of course, I have to agree that 360 will have the biggest sales this Christmas and it's going to look strong through next year because it has the biggest game lineup, but in the long run I feel more and more like Nintendo is going to run away with this generation.