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i think the wii have this arguments against the theory of the short lifepan:

1. nes, snes, playstation 1, playstation 2, gameboy, gameboy color, gameboy advance are the low powered versions of the market in your time and all are the best selling hardware system of your time. (and maybe the ds join to this list)

2. all the best selling systems have a big support of the "casual gamers" and wii have it now

3. your short price and the potential for a more cheap price, give more months or years for your sell, although its successor already this on sale, one great example of this is the gba, that two years after the out of the DS it is continue selling in the US.

4. new peripherals or new versions of the wii, like the nintendo jr, psone, ps2 slim ,etc give more months or years of life.

5. the new market that nintendo attracts did not matter to them the graphics

5. the third partys support by the big userbase

6. the connection  with the ds and with the new portable product of nintendo

7 the wii chanels with have much potential (TV, movies, audio, software, etc) with the posiblity of a total usb support or a hard drive by nintendo

8 well the rest depend of nintendo, well many thing to happen in a future, well thing like a wii with HDDVD o blueray support (the blueray is not only of sony http://en.wikipedia.org/wiki/Blu-ray_Disc_Association and for that microsoft think in a blueray support), wiiboots, wiigloves, i dont know what have to the future.