This isn't "the launch price".
The launch price is £229.99 -- well technically, there isn't a "launch price".
£187.00 is what Amazon are charging ... or rather, the actual cost of the 3DS from Amazon is just £155.83
However...
20% (VAT) of £155.83 = £31.17
Add that on to 155.83, and you get £187.00 (if the VAT was still 17.5% it'd be about £183). Infact, the recommended price of £229.99, with VAT taken off, is £191.66, which is still more than the current price that Amazon has set, and that's WITH VAT. The current US price is equal to about £153.22.
Even the Japanese price is slightly more than what Amazon have set, at £189.00. The Australian price is equal to £215.71.
Considering that Woolworths and Argos are charging £219.00 and £219.99, I'd say £187.00 is very fair, and I see you feel the same.