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By "Wii-like" I just mean using the same core and building on that.  I'm not saying a 1:1 upgrade path, though even just that (50% overclocking, 4x RAM increase) would be a pretty big jump for PS3.  Obviously a PS3 based take would include more SPUs and probably new graphics chip entirely (hopefully emulating RSX for backcompat).  So more like GBA to DS or NES to SNES than GC to Wii in practice.

And Blu-ray will likely be customized for Wii 2.  Panasonic makes all Nintendo's optical drives, and they're one of the biggest IP holders (and thus royalty takers) on Blu-ray... whatever Wii 2 uses, it might not play BD movies (so Nintendo can avoid that fee), but it'll definitely be BD based (for storage capacity and copy protection).