How much is the XO and PS4 up north there?
Even at $300 here in the states, it is pretty easy to get an XO-S or PS4 for $250 with games. There is a brand new XO-S with Minecraft on a deal sale on ebay (from Newegg) for $200.
After the initial pre-order waive dies off, I really don't see how Nintendo can compete. Especially with such a limited launch lineup, and their biggest game in years also being on the WiiU.
I still think $250 is the sweet spot to have any real chance of being successful. Hopefully the 3DS will get killed shortly after launch and they release a system without the dock.