I'm sure it will.
The question really is whether or not the Wii will sell well late into its lifespan. I think the answer is an easy yes - assuming the cost comes down enough, I don't see how people will pass up on say, a $120 Wii when next to the next gen console. Just think, what type of people are or were buying the PS2 very late into its lifespan? For what reason are they buying them? Do these people already have a Wii? Will they desire one 3 years from now?
I think a $120 Wii would have great sales as far as 2014. If someone wants a fun, cheap console, what else will they turn to? Will the PS3/360 continue to sell alongside the Wii then? (I guess it's possible, as crazy as it sounds)
People calling the Wii "outdated" are not seeing the situation clearly. The DS is pretty damn outdated in its technology, but that doesn't stop it from selling tons in its 6th year on the market. The Wii will be the choice system for people that want Wii Sports, 2D Mario, Mario Kart and any other Wii series games for the next 4-6 years. Even if these games get sequels, the appeal of these games will not die, as they will be far cheaper to purchase than Nintendo's newer system. Besides, I suspect Nintendo's next system will not be sold primarily on these (older) games, but rather a new IP (similar to the Wii series).
The only way the Wii doesn't end up above the PS2 is if this gen were somehow much more frontloaded than ones previous. I don't believe that's the case - I think the reason the Wii has sold so well so quickly is simply because it has more people to sell to, not that people were in a hurry to get one. This means its tail should be just as impressive as the PS2's is.
If we don't get an announcement for a new DS by the end of this year (TGS?), consider it done for sure. That means a 2012 DS successor, and a 2013 Wii successor.
