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If it can run an engine like Crysis 2 at 720p on the main screen AND run the same engine at 480p on the sub-screen at a steady frame rate, I'd be OK with that. I assume it could probably run less graphically intensive things like Wii Sports/New Super Mario Bros. at 1080p.

Of course I'd like something more cutting edge, but I doubt Nintendo is interested in selling a $400 console or taking a big hardware loss.