Apparently Reggie said that they're aiming to have the console at the same price point as the Wii (probably at launch), which would be great. Though I do agree, I'll never let a kid touch that.
Apparently the screen on the controller (*explodes*) is only single-touch, so it's not like the badass OLED screen on the Vita or something, so it brings the price down.
Also, I heard it's actually pretty comfortable... though that remains to be seen/felt.