You can pick some hopeful signs out of that, though i rather dislike the idea as it will only feed the impression that Nintendo is a lesser competitor
What he seems to acknowledge is that much of the frustration surrounding previous E3s over the last five years or so (and a problem endemic to all of the big three) is that E3 struggles between its dualities as a trade show (business-oriented) and the fact that it's become a gamer carnival of sorts. By dividing attention they can market the business-oriented stuff directly to the crowd most interested in that, and then optimize the impact of software announcements and gameplay exposure to the masses.
Makes me wonder if i should bother taking time off, though. My job is going to suck absolute ass that week, as they completely ban all internet access outside of government websites (although, stupidly, they allow you to go on these ostensibly forbidden websites, all while running their most sensitive information on Internet Explorer's Java plugin)

Monster Hunter: pissing me off since 2010.







