
There's a rumor about the price of the Wii U floating around and it seems legitimate because people are sourcing this site from Japan. But, the site they source is a regular, English-speaking blog about the Wii U who say: "Yeah, this is what our super-secret source has said".
Now, I love rumors. But I don't feel like the rumors about the price have any weight to them. I believe the site spreading the rumor is fabricating the rumor, and I don't believe Nintendo has decided on a price. $299, as the rumor suggests, may be a ballpark figure, but that's it.
It also makes no sense that, supposedly, the Wii U would cost 20,000 Yen in Japan, which is only $250 USD. But why would Nintendo charge less for their system in Japan? The economics don't make sense. Japanese people earn more money, and there's less of them compared to the United States, which is why the 3DS is more expensive in Japan. None of it adds up.
Basically, be skeptical. Be very skeptical.