Until late 2014 (at the earliest) most third party published "hardcore" games will be designed around the PS3 and XBox 360 and then enhanced for next generation consoles. After that I expect 2/3 of these developers to continue producing games with a similar budget and to improve graphics as much as they can afford, and the other 1/3 to produce the best looking games they can; with the low budget games I don't think processing power will impact their decisions on which platforms to target, and the Wii U will become the base system for the big budget games if it sells enough.
The "casual" and "crossover" titles will (probably) not be limited by the processing power of the Wii U ...
Or to put it another way ... I don't think that the processing power of the Wii U will be an issue for 90% of the games made for the next generation of systems.
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