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There's absolutely no way the Wii U's successor won't be more powerful than the PS4. At least on par. Definitely not weaker than the PS4, and definitely definitely not weaker than the XBO.

I do agree that they will both be released in 2016. That gives the Wii U a 4 year life span and the 3DS a 6 year life span.

The handheld successor will be on par with the PS3 and maybe even the Wii U by that time.