I think western pricecuts will be held back due to the rising yen.  Nintendo's already making less per unit in the west and they have no real need to drive marketshare anymore (still having a huge base who loves buying their games).  I do expect more colors/bundles in the future though, but probably not a redesign (unless it's a post successor rebranding, like the FC/SFC Jr or GB micro).  I also think VS might be integrated into "Wii 2" directly, and skip Wii entirely.

As for software, Nintendo EAD is currently the largest game development studio on the planet, and Nintendo owns tons of external studios at this point.  They definitely have the manpower to support a Wii 2 launch a year after 3DS, and such a timetable would align almost perfectly with Nintendo's new console launches the past two decades (about 5 years per system).  Pikmin 3's still missing in action and could make a good launch candidate for one.  

3rd party wise, if Wii 2 spec is a similar jump over PS360 like 3DS is over PSP (which is likely imo), then port ups should be relatively simple and probably a pretty attractive proposition for publishers... and really there's no shortage of content.  I can already see the "MT Framework 3.0" announcement with RE5 Wii Edition and SSF4 Turbo.  Hell, maybe Ninja Gaiden 3's actually a Wii 2 game (no platform mentioned is kinda fishy...)?  If anything, I'd imagine most publishers would jump at the opportunity to bring their multiplatform wares to another target system starting in 2011...

dont think there will be a upgrade, until wii2 comes around

There's no way Nintendo would unveil a new console outside of E3. They might talk or hint about something elsewhere, but the full reveal will always be at E3.

So you're waiting until E3 2011 at the earliest.

The Wii and the DS, to the best of my knowledge, are the only consoles Nintendo has ever announced at E3.

They used to reveal things at Spaceworld, but that event doesn't exist any more. Since then it's been E3 for everything.

Upgrade in a form of redesign yes.

A full new next gen console, no.

Like people are saying, late 2011, early 2012 is the time.

I don't expect the Bii to be released until 2012.

Except for the fact that the Wii was struggling in Japan as early as 2008.

With the 3DS, there is no way they can make a new system in 2011. It just isn't happening.

GBA and GC were 7 months apart.  VB and N64 were 10 months.  It's not like Nintendo hasn't done this sort of thing before, and plenty of their teams are currently unaccounted for (EAD Tokyo notably).

And 3rd party wise, they'd get a deluge of content coming in pretty quick.  It'd be Portmageddon, almost everyone would jump at the chance to finally bring their HD games over to Nintendo.

Nintendo were referring to features that would make Wii's successor unique when they said the console would 'surprise you', not its release date.

I don't think we'll see a successor to Wii anytime soon, but who knows, we might see a redesign.

2010 seems way too early for an entirely new console, especially considering the money and resources they have invested and are investing in 3DS. I don't think the company's capable of -or willing to-  launching and sustaining 2 new machines within such a short span of time.

Nintendo aren't known for doing that, console-wise, but on the handheld front they have ample experience with redesigns. Considering recent Wii sales, a Wii redesign wouldn't surprise me. Also, it would be tiny, and include the newly-rumoured Wiimotionplus-remote thing, as well as WS and WS Resort.