One of the issues with the ps4 launch is it may well be also the Xbox 720 launch. 2 different formats launching at the same time causes confusion and many won't know which to buy. It's possible one may quickly become the winner due to higher spec, price point or other features but its more likely it will cause consumer confusion.
In some ways though it doesn't really matter which is the outright winner. They are so close to each other in specification that its hard to imagine the majority of multiformat games not being released on both formats.
It's highly unlikely the wii u is very expensive to manufacture despite what Nintendo says. Nintendo are in a good position to be able to cut the price of the wii u if they have to and still remain profitable. The R&D money spent on the wii u may have to be clawed back at a slower rate if they do so.