Well, Ian, don't forget, Nintendo has a huge lump sum of cash to invest with that might not be in use right now.
After all, they've had their standard number of games in development, so those costs haven't really risen, yet they're making at least fifty bucks/Wii. I'd say they could but them if Bungie were interested. I think Nintendo should be very interested since Halo 3 made quite a splash in Japan, as well. I'd say this would be a great opportunity to please Western gamers, while not offending Japanese ones, either. I think that could be a very remarkable move, if Nintendo would actually make it. Of course, they'd have to make sure that half of Bungie's talent doesn't leave upon takeover, but other than that, it's an ideal purchase for Nintendo.