I think a traditional E3 conference is key. I love conference, I watch all of them from all the three big companies. IT's exciting to see what games are coming, even if they are not in my immediate console.
Real, hardcore gamers watch those conference in drones. Sure, we all claim that the next will be more disappointing than the last but it's still pretty interest to see. The Directs are great for big details/updates, they should keep doing those as well, but a big E3 blow-out is very important in my opinion.
EDIT: As people have pointed out and I have just realized, they need to win the casual crowd back actually. The hardcore are keeping the Wii U alive, the casual crowd will let it become revelant once more.
"Trick shot? The trick is NOT to get shot." - Lucian
