On the price end, it's same old same old. I predicted £224.99 before the news came out after I learned about the US pricing. For Nintendo consoles, it seems that taking the US price and dividing it by 1.1 gets a close estimate.
The RRP for the Wii for instance is $200 and £180. And The DS XL is $170 and £160. The DSi is even more of a joke, at $150 and £150. It's worth noting that even the Japanese aren't getting as good of a deal as the Americans. Not sure why either, AFAIK, their equivalent of VAT is at 5%.
The epic fail, for me, lies in the region locking. Stem piracy? How do they think that's going to 'stem piracy'? If anything, it's going to tempt people into finding a work around. And the chances that such work around would include means to play pirated games is probably high (unless they made it as resistant to tempering as Sony managed with the PS3). As someone who wants to be able to enjoy Japanese games (I am slowly going through my first text rich Japanese game at on my DS Lite at the moment), there is no way I am going to buy a machine that'll restrict me to UK games. 2 steps forward, 5 steps back. Nintendo, I am disappointed.