For argument’s sake, it is entirely possible that Nintendo could release a new console or handheld this year; but there is no way Nintendo would release a new console and handheld this year. Realistically, most companies would want at least 12 months between major hardware releases that have an overlapping user-base; and would most likely be aiming for an 18 to 24 month split between the systems. The reason for this is pretty straight forward, that a company wouldn’t want its most dedicated users trying to decide which system to buy; and they would want the early adopters to have bought into one system, and the system to be in a position where it is self sustaining, before they release a new system.
Now, if Nintendo was in a rush to release both new systems I could see a spring/summer handheld release followed by a Q4 2011 release of a new home console; but this seems more like the act of a console manufacturer who is desperate rather than a company who is currently the most successful console manufacturer ever.