I don't think we're going to see any further price drops on the black 4th gen.
From what I can tell, the white one coming out does not look like it's a new generation coming out.. it's going to have the iOS 5, but I can't see where they're classifying it as a new generation.
Even
Amazon is linking the black and white together, same price, you just pick the color as you're ordering... and they're still calling it 4th generation.
I was at Target and
Walmart yesterday (just to see if they had put them out early, lol), and target did drop their black ones to $199 (same price that the white one will be), but walmart still has their black ones marked at $225... this is for the 8 gb ones.
I'm waiting till tomorrow, then going to get the white one, only because I think dd would prefer a white one... and it'll have the new iOS (although fairly certain the black one can just be upgraded to that as well, and don't believe we'll see any difference at all between the two then).