The Wii isnt going to be cheap, Nintendo got away with having a cheap console because there systems lacked alot of features that the others did. Like a DVD player. It would seem very odd if there Wii console didnt have that feature, so Nintendo can either have a cheap console but lose profit with every console sold, or sell it at a higher price and gain profit.
Nintendo is in a tricky spot, while it got away with it last time, they cant do it again, so they will need more support from us if they want to succeed. If it cant get anymore players as it had with the GC, Nintendo are finished.