This is a good way to go, add more value rather than price cutting, Its too early for a price cut, that would just cheapen it! No pun intended
Hardware bundles are always a good idea but I think great games or features will have more of an impact.
If BLOPs2 had taken off on the Wii U I think the word of mouth would have done more good than any marketing campaign.
The flaw as far as I can tell is that Nintendo tried to sell a new console on the strength of a party game alone and most people aren't going to take that particular bait twice.