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Absolutely. But as Fils-Aime said, Nintendo won't move to the next generation simply by adding HD. It needs a complete redesign to correct what the Wii failed for. No friend code, just an unified online. Bring third party games at last on a Nintendo console. Improving the online system, with chat.

Nintendo also needs to master the 1080i Full HD definition and improve their franchise to this technology. They must be prepared also, because the master of HD is not so easy.

I would love to see the perfect mustache of Mario, with every hair defined and maybe some grey hair (he's old, remember)
I would love to see all the scratches and reflects on Samus' suit. I would love to see the perfecness of Link's sword and all the details and light effect one it.

But, sincerely, I think Nintendo will come up with something really interesting. The Wii has done its way, now it's time to improve it further.