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HDMI is the cable hook up input for HDMI output, a requirement for 1080p resolutions, something Sony is boasting about for the PS3. Basically, not important if you don't have an HDTV or don't intend to buy one with 1080p output, which only a select few HDTVs support at the moment.
About console prices, I am content with the Wii prices; they are what they are, and I'm happy that most games will retail for $50 rather than $60 like X360. As for PS3, it may not be technically over-priced because of what it offers for $600, but it is still expensive for a videogame console. No word on PS3 game prices yet, however, Japanese game prices for the system convert to roughly $75 to $85. Again, this is the yen price converted, the USD retail price hasn't announced yet.
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