I think what we see is what we get. It's too big to be a good handheld, and not powerful enough to please the console crowd. It's a tablet running on a mobile processor, that plugs into a dock, and that sends the signal into the TV.
My concern is, what third party is going to support the hardware with their mega hit games? They gonna have to pair it down, and specially fine tune games for it. That spells danger to me, because I think we're looking at another WiiU here, and Nintendo is going to have to rely on first party to be competitive, or they can go the safe route and play it like a Nintendo DS successor.
This is classic Nintendo again folks. They have a track record of building their hardware with their franchise in mind only.