It needs to come out THIS year, but all the rumors seem to be hinting at a late 2012 release. It may be possible that Nintendo themselves leaked out a false rumor in order to throw off the competition. If the rumors are correct then it will come out late 2012, but I'm going to be hoping the rumors are wrong and we will see it this year.
Put me down at 11/19/2011 at $329.99. I'm making this guess on the assumption that all the rumors pointing at late 2012 are due an intentional false leak by Nintendo. This date also makes it exactly 5 years to the day when the Wii launched on 11/19/2006 and 11/19/2011 is a good date because that happens to be a Saturday, which is probably the best day of the week to launch a console. So it makes sense. As for the price, I just went with $329.99 to be different, because no one else guessed that.
I really don't think they will price the console at $299.99, because that would match up with the price of the 360/PS3 and they want their console to appear to be more powerful (which it will be), so it needs to be priced higher so that it appears to be the superior system. When you also factor in the inevitable shortages they need to go with a higher price anyway, because if they don't thousands of scalpers will and it will be just like the Wii when it launched all over again.
As unlikely as a $299.99 price is, anything less than that is just absurd. If its priced $249.99 or $199.99 then it will be priced less than the 360/PS3 which would be ridiculous for a technologically superior system.