Inflation and current value of money is really not the right way to analyze modern consumer products. You need to analyze it in relative terms to other products in proportion to disposable income.
$600 for a game console five years ago was more than most kids are given by their parents for Christmas and even though I bought one at launch, I know it seemed like a heck of a lot of money to me at the time and I make a pretty good living. Obviously a lot of others agreed as it didn't meet first year sales goals nor did it remain sold out for more than a few weeks after launch. The point is, there are many, many factors which make a product successful. Even the folks at Apple have had failures or disappointments in recent years like Apple TV and the novel controller on the WiiU is certainly not going to be the thing that determines in and of itself if the console succeeds. Just like the 3DS is becoming marketed less as a 3D system, the WiiU can easily be repositioned as a high-def powerhouse for all the classic IP kids and families love and the controller written off as a mistake if it doesn't add anything to the gaming experience.