"In a recent interview with Yahoo! Japan, Nintendo President Satoru Iwata provided a preliminary indication of the initial price point for the company's next-generation console, code-named the Nintendo Revolution.
Although Iwata's comments were brief, he did state that the Revolution will exist in a different price range from the PlayStation 3 and Xbox 360. He suggested the retail price to be less than $399, which is the cost of the Xbox 360's standard package, without mentioning a specific market value. No details regarding the price of Revolution software or what might be packaged with the console were provided.
Stay with Revolution Report for more as it happens." [link]