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HappySqurriel said:

I'm not saying I know what is in the console, I'm saying I know what isn't in the console ...

IBM has explicitly stated that the Wii U processor is based on the Power architecture, is using their most advanced technology, and is based on the same technology that was used in their Watson super computer. In no way does this match up with a 3 core PowerPC 7xx processor.

IBM stopped R&D on the PowerPC 7xx based processor years ago, and the Wii's Broadway processor was the last chip developed in that line. There is no reason to believe that either IBM or Nintendo wanted to continue with this CPU, there is no advantage and it would likely cost more in R&D to modify this CPU to perform well than to take (something like) a Power7 processor and get it to run at a lower temperature; and IBM would be highly interested in reducing the energy consumption of the Power7 to open up new markets for it down the road.

In the back of my mind I really hope that you're closer to the truth, that the Wii U has more powerful insides than this rumor says.  Chances are that neither this rumor, nor your assumption will be exactly how it turns out, that's usually how things end up.  I've just seen numerous rumors for so long be so consistent with the opposing architecture.  It just wouldn't make sense that so many people would falsify information (so similar to one another) for no real reason.  It certainly wouldn't be for attention, since they're all anonymous.  Anyway, I think more importantly than chatting in circles about rumors like this is the price.  Luckily we'll know in just over half a day.  And hopefully immediately after that, people behind the scenes can talk freely about what the console is capable of.  Maybe sooner than later threads like this will be useless, and the discussions within them even useless-er.  Nintendo, I'd like the truth now.