I kinda think it will be similar, but I think the "console" will simply be the handheld chipset (likely ARM based) just doubled up perhaps (2x the CPU cores, 2x the GPU cores, 2x the RAM) to be able to run the same games only at a higher resolution.
So I think you will be looking at a micro-console ... think something the size/form factor of a Vita TV or the Amazon Kindle console, about the size of a deck of cards.
That's such a Nintendo-ey idea, they are gonna want to make a micro-console and it's possibly today using smartphone components like ARM processors.
The handheld variant will cost more ($200-$220) because of the cost of a 5+ inch LCD display and battery, the home console variant will be cheap, cheap, cheap ($169.99) and both will have graphics roughly equivalent to a Wii U, just at a lower resolution for the handheld.
They will be able to play a monstrous back catalog of Nintendo games too, including a lot of HD remasters of 3DS games, DS games, some ports of key Wii U titles, Wii titles, GameCube, GBA, NES, SNES, etc.
You'll have Netflix, Hulu, Youtube, etc. and a bunch of other apps there too (Facebook, Twitter, etc.). They will just make one game from now on and it will work on both devices, I think the only difference will be if you buy the "TV version" you pay a little more and get to play at home at a higher resolution (on top of being able to play on the road).
