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Aiddon said:

I'm quite skeptical of the rumors. Reggie has repeatedly reinforced that the Wii's successor is going to have to add something besides just an upgrade to HD and better online capabilities. Plus the 3DS just came out so they'd be better off focusing on it instead of revealing that would just steal its thunder. We're probably not going to hear of a Wii successor until next year at the earliest

This.

Unless the new console works in conjunction with the 3DS, say the 3DS can be used as a controller.  Then the E3 would be all about the 3DS and games for it and how it was going to work with the new console.  At the same time, it allows them to keep something exciting about the console under wraps to be revealed at the 2012 E3.

LOL, not likely but that would be pretty cool.