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There are lots of rumors like this one all over the internet and more often than not they turn out wrong so I am not putting much stock in this one.

Although reading what the person on GameFaq said, he didn't really say that there would be a Nintendo Direct on May 7th, but rather the details of the paid online would be revealed then (we already know that info is coming sometime in early May based on what Nintendo themselves said so this). This could be done through a Direct or Mini-Direct, it could be done with a none-Direct related Video, or it may simply be done through a text-based press release on Nintendo's website. As for everything else, he seems to be saying that those will be in the E3 video.