How much will the Wii cost?

Hey everyone I haven't found a thread on this but I was wondering if any one knew a price range and a launch date for the Wii. I found this piece of news on infendo.com saying it will sell for $250 but haven't heard anything anywhere else.

http://www.infendo.com/2006/05/egm-wii-to-sell-for-250.html

"EGM info has been leaked revealing a Wii launch price of $250 later this year. Here's what we know:

$250 launch price

Virtual console games - $2-3 per NES game, $5 per SNES, $10 per N64"

Nothing is official, but it's being widely guess at either $200 or $250. No clue about the virtual console games.

You get one if you buy a happy meal

All they've said so far is that it will be less than the other consoles.