Nintendo's "Home"

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There's actually few problems with voice chat: language barriers and chatting completely random people.
Limiting voice chat to friends, would address both problems to some extent (the problem here, is adding random people to friends).

Nintendo already have tried voice chat with DS, and apparently the experience wasn't what they wished for, since so far the voice chat have been limited only to the experiments.

Friend codes aren't a problem, but as Ben said, there would be a need for global (which i didn't think as a technical term at first), which i believe will be addressed with "friends channel" (which i believe will be coming). Then the problem here is, the limited number of friends you can have. Update to higher number would get rid of this problem, but then again, it would be easier to add random people as friends. But the game specific friend codes would still have to remain, in order to add friends for specific games.

And the random voice chat is really a turn off with people behaving badly online. No matter what some people think. When you grow older, you just get tired of (other peoples) immature behavior. Actually you don't necessarily need a voice chat to behave badly. Sure it does have a lot of benefits too, like conversations with other people and it does make some games more fun.

As for the topic about "home", you need to remember, that Nintendos approach is completely different, since the idea is, that when you turn your console on, you start the "home". You can send VC games as gifts to your friends, now with Dr. Mario, you can send game demos to friends etc. you just don't enter the pixel world. Basically the only thing that is missing, is to see what your friends are doing at the moment.