No one is saying Wii U is not more powerful than PS360 :p
Seriously, I think that would be silly - I'm quite certain Zelda and other 1st parties will look great. From what I'm seeing here, debate is more about how these specs will affect 3rd parties - since you mentioned BLOPS2, take a look at those shadows for example - I don't remember I've seen that in something like 10 years, and that memory bandwidth might be problem - I'm sure they can fix such things, and make it same as on PS360 (or better), once they learn how to do it "Nintendo" way.
In my opinion, even if it turns out WiiU is just slightly more powefull than Twins, newer GPU will and more RAM will make it much more easier for developers to code than on current consoles (as some developers are alraedy stating). But, it would've been really nice if Nintendo went just one extra mile, and made system bit more powerfull, so that can be clear right out of the box it belongs more to NextBox/PS4 power category, and not PS360.