Here's the only thing...Live does convey so much more. Granted, it opens up the possibilities for hiccups and snafus; but that is part of the spectacle.
I don't think it's a deal breaker...but it's not a conference, any more than a music video or a recording of a song is "live". Don't get me wrong, some bands I really prefer not to see live, except to be present during the production of their music. But you can't deny the energy that takes shape during a live performance.
Nintendo has been known, however, as have the other two (as well as Ubi and EA), to deliver painfully uncomfortable conferences. I'm priveldged to have witnessed these first hands, and trust me, they are cringe-worthy (here's looking at you Kinect/Sony Move reveals).
I guess the bottom line is that for the most part the only people that really get to witness the spectacle in all its glory (or lack thereof) are the journalists/industry folk. They're probably the most vocal when it comes to this perceived faux pas from Nintendo. Maybe that's because they don't get to be the center of the show now. For all intents and purposes the internet decides who wins E3...and taking the conference out of the picture diminishes the journalists' sway on that conversation.
So yeah...there's a conference...it just doesn't have the possibility of scoring in the upper echelon of conferences, considering it's pre-taped. Even if they delivered a perfect presentation...a similarly stellar one with a few minor hiccups performed live would score higher in my book.
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