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RolStoppable said:
The video is going to be three minutes long, so what can be reasonably expected?

Nintendo is not going to show the hardware without games, but three minutes make it tough to show everything. 

Not for Nintendo's standards of "everything" though, 3 minutes could already be too much

Anyway they don't have to put everything in there, a trailer is just the visual part, they can show off the look of the system, any potential unique feature, release date and quick footage of some games. Anything else can be shared via press release, from specs to full launch line up, partnerships etc