In terms of power, as long as Nintendo gets the lowest common denominator in the right ball park (handheld), games could be scaled up/down properly.
Lets say 3 gpus is unrealistic, 2 can happen and there already are 1 tf mobile chips out (tegra x1) so if Nintendo really wants they can exceed Xbox One and possibly PS4 as early as next yr under a dual gpu setup. Simpler even, get the desktop relative of the mobile chip (Cobretti brought up a good point earlier about floating point), and it will still be low power for Ninty's liking.
To make it clear, Nintendo can release a low power consuming, affordable, true 1080p machine easily by next yr. Again the key is to make the HH powerful enough...








