[Update: Nintendo's not committing to a permanent price drop here, but would tell us that "Nintendo provides suggested retail pricing on its hardware and software products. The final price in stores is always up to retailers to determine."]
Looks like rumors of a Wii price drop were the real deal. Multiple big box retailers have dropped the price of the console to a cool $169.99 down from its former $199.99 price point.
If you see any others, let us know in the comments. Considering the unison price drop, this is likely an official, retail-wide thing. We've sent a note to Nintendo to find out the official scoop.