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Frankly, I think Nintendo should "Go mobile." Not by releasing their games for Android and iOS, but by releasing their own iOS or Android. They're one of the few companies I can think of that could pull this off, and create a more reliable mobile store for selling paid videogames for more than $5. Who wouldn't buy a 5-10 inch tablet that plays all your favorite Nintendo games and has a tightly controlled, but high quality open marketplace? Presuming that they could get all the basic necessary apps(Email, internet browser, decent music/video player, etc.) I'd make the switch in a heartbeat.

They could even create a "Nintendo TV" to replace their (by then) dead console business.