Say what you will about the Nintendo Wii, but there have been enough great games released on it to justify paying… let’s say $150. That’s a nice, arbitrary amount, right? And while $40-50 might be a bit steep to play those great games, doesn’t $20 sound fair? Well, good news. Nintendo is going budget. Kind of.

The company just announced that the Wii will be dropping in price to $149.99, and that this new bundle will include Mario Kart Wii and a steering wheel accessory instead of Wii Sports/Wii Sports Resort. Nintendo also announced the Nintendo Selects series, Nintendo’s version of a Greatest Hits collection. Each Nintendo Selects game will cost just $19.99, meaning you can get some pretty good gaming going on for just $170.

Unfortunately, the only announced Nintendo Selects games currently are Legend of Zelda: Twilight Princess, Animal Crossing: City Folk, Mario Super Sluggers, and Wii Sports. Besides Zelda, it’s not exactly a stellar lineup. Yeah, if you want a real Mario game or Donkey Kong Country returns, that’s still going to cost you over $40. On the bright side, Metroid: Other M can be picked up for just $14.99. Of course, that’s because Metroid: Other M was a piece of shit that seriously damaged the beloved franchise, perhaps irreparably.

This price drop is clearly to make room for the next Nintendo system, which will be announced at E3 2011. It’s a great deal, though. The Wii is already 100% backwards compatible with the Gamecube, so for $150 (plus maybe $40 for a Gamecube controller and memory card), you have two full generations full of great games available to you, for less than $200. That’s really not bad at all.