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Play4Fun said:

 It doesn't matter if it hasn't reached its limit. It's not getting nor is it going to get much  more third party support (worth mentioning).

Nintendo can't keep pushing the console on mostly first-party alone. They have to release a successor that caters to third party wants and needs, then they can leave it for a ten year life cycle for all I care.

But maybe Iwata is being serious...maybe there is no new console coming soon. Like, say, late 2012.

Right Iwata? *Nudge, Nudge*   *Wink Wink*

Many people say basically the same thing : that Nintendo should release a successor to the Wii as soon as they can because it will never have a decent third party support. But I don't see how releasing a new console now would change that: why would developers work on a new Nintendo console with an inexistant installed base rather than on the Wii? In order to have a good third party support this new console would need to have basically the same power than the PS360 in order to have ports. But the problem is that when the much more powerful next home consoles from Sony and MS will be released in few years, developers will probably once again stop developping for the Nintendo console and start making more graphically advanced software for PS4 and 720. So releasing a new console now doesn't make sense for Nintendo imo. This is as stupid as the Pachter's Wii HD idea.

On the other hand the Wii has a huge installed base, it only lacks some HCG. The situation is evolving favorably imo as more and more third party games are selling very well on the sysem like EM, COD; BO,  Golden Eye or Sonic Colors last year. And the more they will manage to attract more (hardcore) gamers the more these kind of third party successes will be common. So instead of releasing a new console early Nintendo should try to maintain the Wii as long as they can, releasing more hardcore games probably and games that third party can "duplicate" -like RPGs or even FPS- in order to create a more viable market for all kind of content. Once they will have a more decent third party support, when they will have proved to third parties that they can be successful on their system, then it will be the right time to release another console. And if they can't do that at least they should wait for the next Sony and MS consoles before launching the Wii2 because rushing things could only hurt them in the long term.