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I think this could do OK ... 

PowerVR GT7900 type GPU (or AMD equivalent), runs at full 800 GFLOPS when played at home (plugged in), automatically downclocks to 400-500 GFLOPS when played on the road. 


New controller. Yes it's a portable, but it also has a new controller for home play. Possibly the controller can also be used on the fly. 

Can wirelessly send a video signal to the television (the reverse of the Wii U)

6-inch LCD display (single screen)

Custom Nintendo OS, but runs a Android back end so Android apps can be ported very quickly, they can only be autorized by Nintendo, however, who gets a nice royalty fee surcharge on each download. 

$249.99 MSRP. Same launch price as the Wii, except you're getting a home console and a portable all in one. 

But I get the feeling Nintendo will go even cheaper on the GPU/RAM unfortuantely.