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1) If Sega is ever going to come back into making systems, they should start with a handheld. Another person said that there is already 3 home consoles and I personally think the market is packed as it is for another home console. There is only two handhelds on the market: the PSP and the Nintendo DS. Since Microsoft wont step into the handheld market, Sega should consider taking the third spot.

Would you buy the new Sega console? It matters if they are supported by companies like Square-enix, capcom, etc. 

Do you think Sega has enough first party I.P.'s to make a successful first party library? If Sega comes out with a handheld, I would say yes. A couple sonic team titles would do well for a handheld. For a home console.. I would say no.