Personally, I'm convinced since this generation that price doesn't make a huge difference. Granted, PS2 and Xbox had DVD players, which were becoming a hot item at the time, but then again, if Nintendo has the same features this time around, how is it going to be profitable and keep its price lower than the other two? Only if they're ripping consumers off, and I don't think Microsoft is ripping people off...I think it was just being really nice with the Xbox. Will there be a feature on Xbox 360 or PS3 that makes them stand out the way DVD did? I don't think so, but DVR could come close.
As for racing games, I think we see so many early on because it's easy to make them. That doesn't mean it's easy to make a good one, but compared to adventure-like games where people expect lots of "moves", artificial intelligence, varied terrain, and of course a story and characters, racing games maybe require a little less planning and careful design. Throw together a bunch of cityscapes and put in tons of car models and lots of people are happy.