Nintendo Directs are absolutely fantastic.

[ToxicJosh]

Few things to throw into the debate:
-Directs are accompanied by the traditional press release.
-Directs often get many times the coverage than a simple press release would ('theres a direct coming', 'watch the direct here', 'here's a summary of the direct').
-Recently Nintendo has been using press events in collaboration with directs; see the MK8 blow out earlier in the month, and that GameXplain was straight in after the Direct with footage and analysis of new tracks.
-Other devs/publishers are following suite. EG. the way Disney Infinity 2 was unveiled yesterday: 'Direct' and press release.

Personally I think Directs were only OK last year; it was nice to get more information direct from the source and have several moments of excitement throughout the year. But the format was a bit stilted and they did cut the press out a bit too much.

But so far this year; wow. Nintendo have the format nailed now and they've clearly learnt to give the press their special days. Nintendo's E3 plans have me super excited; I think we're going to get more information out of Nintendo's E3s about the stuff that matters to us as gamers, than we are out of Microsoft and Sony.

If you think an on stage presentation and a 2 minute interview with Geoff Keighley is going to trump the level of in house coverage that it looks as though Nintendo is set to be providing then you're deluded. And don't forget, that the press STILL get all the hands on that they do with everything else, except that this time they don't get to watch the execs trip over themselves whilst drinking champagne in a dark room (well, who knows what goes on backstage...)

Plus, who doesn't want to see a shed load of excellent Smash players figuring out how to beast the new game in a tournament setting?