Folks, call this “news you get out of bed for”. I got this email via my Droid Incredible not 12 minutes ago (it’s nearly 1 am PST), and felt it was worth disturbing my impending slumber. With the holiday season approaching, and with it, a number of amazing games like Star Fox 64 3D and the new Super Mario, Nintendo is reducing the suggested retail price of the 3DS. And not just a few bucks, folks. We’re talking a whopping $80. Starting August 12, the Nintendo 3DS will go for a jaw dropping $169.99, down from $249.99.

I’m shocked they made this big of a drop, and so soon. Surely this has to be in response to the 3DS’ slow start? What a blow the early adopters. However, it’s worth noting that if you already have a 3DS, you’ll be privy to the Ambassador program, which will provide a slew of free (and in some cases, otherwise unobtainable) downloadable 3DS games to those who sign into the Nintendo eShop at least once before 11:59 PM Eastern time August 11. Several NES Virtual Console titles, slated for later eShop release, will be available early to Ambassador program members, and 10 Virtual Console Gameboy games, including Mario vs Donkey Kong and Yoshi’s Island: Super Mario Advance 3, will be made available before the end of 2011 (with no plans for release to the general 3DS public). All titles will also be free for Ambassadors. For more details check out the press release after the jump.