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Soundwave said:

They may as well go with a gimmick focused console at this point, they simply can't compete with Neo/Scorpio on power so that opening is basically closed to them.

I just hope the chipset isn't a complete piece of crap like the Wii was. Gimme 1 TFLOP + 4GB of RAM (which is freaking low) and I'll be OK, that's at least a decent upgrade over the Wii U.

Whatever the gimmick is it better be something spectacular and easy to understand. 

If Nintendo's SCD module really works as described in the patent, it could kinda be both.  That would be a gimmick far more advantageous in the long run than any new-fangled controller, and while NX wouldn't match Neo or Scorpio on a pure tech level, the SCD can connect (even peer to peer) with other SCDs to use the power of the network to enhance games considerably.  Remember that the SCD has CPU and GPU processing abilities.

My guess is that a base handheld unit would be just powerful enough to run modern games at a lower resolution.  Definitely not XB1 in raw power, but able to share the same library, with the console variant closer to PS4 in power.  Again, it's the SCD that would be doing all the magic to make games run at a PS4+ level.

A "Nintendo cloud" that includes your uncompromised gaming experience, account and social media all together could indeed be pretty spectacular.  It's just up to Nintendo how they handle it and make it easy to understand to the user.