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JustBeingReal, WII U is using an ARM processeur for the OS ... 

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For me, the NX will probably be a HC at first (March) and in October / november Nintendo released a HH ...

HC NX will in my opinion, a Nintendo smartphone, using a proprietary OS, this smartphone will average power but will be particularly optimized thanks to the proprietary OS, ARM type components + MALI GPU ...
the smarphone can be inserted in a pad like this

 

but with a more disign like 2DS or Gamepad ... forming a true HC ...
But smartphone & pad = HC is the first secret of NX ...

The second secret of NX and explains the hybrid machine is a second part which will remain at home, part that is connected to the TV.
I think that this part contain a hard drive for storing games, an Opteron server CPU (for high quality online service without subscription), a graphic part for displaying HC games on TV (probably streaming) .. .

 

So the NX HC will be : 1 smartphone with 1 special pad to transform the smartphone in HC, Accompanied by 1 personal server (storage, online gaming, viewing on TV)
 
 Then in late 2017 (the last secret of NX), Nintendo will release a HH, it will only contain CPU, RAM, GPU and connects via PCI (or equivalent) on the server that accompanies the HC ... for making a powerfull système and be ready for PS5 and Xbox 2 ...
 
 NX HC : 300 $ ...
NX HH : 300 $ ...
;)