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Andrespetmonkey said:

It's 1.5 gb RAM.

But yeah, it's clearly going to be more powerful than this gen. The real question is how will it compare to Orbis and Durango, and I think it's unlikely that the Wii U will be close to achieving what these other 2 will (physics, graphics etc.). I think it'll probably be able to run the same games, but with a lot of drawbacks. That's mostly speculation though.

Sounds good to me.  The competition cannot reasonably be that much more powerful.  Those two will likely be what the XBox and Gamecube were to the PS2 - which had  technically inferior version but still exact versions of the same games running on the same engines.  This won't be some kind of PS360 vs Wii disaparity - that's just wishful thinking.