It is going to be called WIIVR(pronounced weever). The VR standing for virtual reality 
http://www.youtube.com/watch?v=Jd3-eiid-Uw .
It is going to have something else that we can't predict because of nintendos weird ideas.
IT will have an updated wiimote.
Now graphics are hard because we don't know what is standard 4-7 yrs from now. I am going to estimate though.
It will have a multi core processor of some kind. Something that is efficient. About 1-2 gb of ram. A gpu probaly equivalent to an geforce 8800 gts. It will produce graphics similar to what high end pcs produce today but maybe a little more or less advance. It will have some form of 500gb+ storage it doesn't nesecarily have to have a hdd. It will have a physics chip so the cpu won't be drained for physics and could be used for AI and Graphics. It may produce both 720p and 1080p. It would still be less graphically powerful than the others but not by as much as the wii is less powerful compared to the ps3 and 360.
Most games would have an online option.
Now this is only a guess so don't say that it will never happen because you are only guessing too. Post your predictions. I plan on making other threads for the other consoles too.
