$349.99 with Nintendo Land isn't an option. It's either that or $299.99 with Nintendo Land.
If it is at all financially possibly for Nintendo to launch at $249.99 or lower with Nintendo Land, they should. Nintendo just needs people to buy the box and the lower the price, the easier that is. Nintendo left a lot on the table by not pricing the Wii higher, but I don't see the same kind of demand for Wii U (though, i suppose, you never really know). It's a nice system but the GamePad is considerably less radical. The more and faster consoles sell, the more confidence consumers and 3rd parties will have in the machine. I don't think Nintendo should take a loss. Pricing is going to be really important here.