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A PS3/360 level hardware in a "on the go" tablet style device will probably be feasible soon. One that could be taken outside of the house, but also wiressly transmit a video signal to the television for play at home.

I actually think Nintendo already has a working prototype of this idea in their R&D labs right now.

It's just too expensive/bulky/battery sucking right now, but in 2-4 years it'll be ready for prime time.