It's not about people who are holding off, people who are in the know could have had a cheaper one second-hand or refurbished a long time ago, it's about impulse purchases.I really don't see how a price cut would make much difference at this point. Are there really that many people who are only holding off on the Wii U because of its price?
If Nintendo are actually going to market Splatoon on kids TV and have WiiU bundles in physical stores then it needs to drop it into impulse buy territory for parents, and for people curious about the game who wouldn't otherwise take the plunge.
I understand that there are production reasons behind it, but the price has been too high for too long. This Nintendo World Championship thing has the potential to be a great marketing campaign, but it won't make much difference if they can't get the price down.