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The Wii is a huge phenomenon, and trying to deny that is pretty silly.
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Of course it is, and I don't really see anyone denying it in this thread. I am just not sure whether the current price cut rumors have anything to do with Nintendo's Wii in general. I don't think that Microsoft fears that people who would buy a 360 buy a Wii instead because it's cheaper. Same for Sony and potential PS3 buyers. It's simply a different league. If you want a next-generation HD console, you don't really have a choice between 360 and Wii or PS3 and Wii.
However, I would never buy a Wii because I think that it is an extremely homosexual console that actually makes people think they're gonna lose weight by jumping around in their living rooms, waiving with some input device that looks like a dildo and playing games that look like they're imported from PSX. If you wanna be cool, trendy and hip, I guess you should buy a Wii. If you wanna own a good gaming console, you shouldn't. Also: No kidding Nintendo is making a fortune, I don't even want to know how high the production costs actually are. My guess would be something like 50 bucks.
I am a dolphin, do you want me on your body?