The title sums it up.
I think some people might take this as a response to 3DS sales, but I think it's just a price drop that they want to be able to be able to throw around during their E3 Conference (a few weeks after May 15th on June 7th to the 9th). Hopefully they have some huge titles they wanna officially confirm are coming to the U.S. and entice some "hardcore" players in with a $150 console. I also don't believe Nintendo is poised to reveal a new home console at E3, which some people might infer from the price drop. My reasons aren't that strong, but I get a general feeling that they think they have enough in the way of Wii software that they could make the Wii successful for a long enough period that it would be a waste to reveal their next home console at this upcoming E3.
If you're not already a Wii owner, would you jump at the $150 price tag, or would you need to see what Nintendo is offering at this year's E3 first? Do you know anyone that this new price might convince?