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It reallt bugs me when analysts, in particular, keep throwing the old "underpowered, therefore, needs to upgrade asap or it will perish" argument.
When will they realize that (HD) visuals don`t make or brake a console? Did PS1 need an upgrade to beat N64 by almost 3:1, despite being inferior when compared to N64? No it didn`t. PS1 had winning (aka great games for everyone)!

Even if Wii would get a HD version now, what would that change? Would the install base change that much as to appeal to 3rd parties? Wii`s market is already set in stone. No HD console would change that: there wouldn`t be HD games to back up the WiiHD, nor there would be people owning it in great numbers to increase Wii`s hardcore market. A few more years would have to pass for that to happen. But then again, would people really buy a WiiHD when there`s PS3 and Xbox360 with 5/6 years of awesome games already?

Wii`s been selling less then during it`s peak time, but it`s selling well worldwide - except for Japan, it`s biggest concern.

E3`s just around the corner. Nintendo will announce a good amount of games to keep us entertained untill 2012. That`s why, Wii 2, for me, will only come late 2012.