I've been predicting Nintendo would release a new console in Winter 2012 for almost 3 years now. An announcement at E3 2011 would be the best time, now that XBOX360 and PS3 are focused on making their systems until 'at least 2014' and the 3DS is already set to overtake the handheld market.
In short, its the DS/Wii comeback trend all over again. Only this time if Nintendo releases their system first, third parties might focus on it. Especially if it follows more of a trend like the GC and puts a focus on graphics.











