Replace E3 2012 with 1995 and Nintendo with SEGA and you have the formula for the Saturn's US launch.

How'd that work out again?

Thing is, they revealed it....this year, 1 year in advance. 3rd parties already have an assumed timeframe of when its coming out. Most probably have had dev kits for a while in preparation for a  Q3 2012 launch.

Def before the next years COD...so I'm thinking around August-September

It is a good release date, but I think they will go for one later in the year though

No no no, this is a console, not a handheld. Nintendo needs to put it's foot down from the start with a Nintendo console seller. THey don't need 10, they need one, preferably a mario. Once they have that one title, then yes they can leave some space to 3rd party.... it's what the 3DS currently lacks, a Nintendo blockbuster. (that and the biggest production is a portable itteration of a game that sold tons already).

Now on the month... it really has no difference if it's not end of year.... but at least a march-june release enables the console base to be bigger for the next christmass.

So?  Apparently you don't understand the point I was making.  The Saturn had already been revealed a year earlier as well prior to E3 '95.. in fact, it had already been released over in Japan in Nov '94.  SEGA had already announced a launch date of Sept 2nd 1995 (similar to the hypothetical Q3 2012 projected release date for Project Cafe), which was the target date for 3rd parties to have their launch software ready.

When SEGA announced at E3 that year that the system would be on sale immediately, 3rd parties had no clue about it, and were scrambling to get their software ready.  They also released the Saturn at a time when the demand just wasn't there yet, and any advantage they thought they'd have by releasing early was lost because of a lack of software, demand, and a high initial price point.

In short, it would be a disaster for Nintendo to announce any kind of "surprise launch" that would take place mere days or weeks after their latest trade show appearance.  Nintendo already has at least a year advantage over the competition's next-gen platforms (no way Sony or M$ release a new system by next year), so there's no reason for them to blow their load prematurely at E3 2012.

Nintendos problem with the 3DS comes from lack of good software, this probably won't be a problem with Cafe

Grow a pair and release this thing in the summer!!! If your a fan it doesnt matter what month it comes out you should be getting it near launch

I'm sorry.  I know there's a lack of interesting Nintendo stuff to talk about but can the internet let Nintendo actually show Project Cafe, explain it's intent and give launch dates before we go speculating from everything about it's aim to success? 

Until we actually know when it's launching (or what's it's intended market is, or price, or games, or online or anything really) I don't see any value in speculating about how good 'X' date would be. 

In the end if it's just another console, June isn't a great time (if it even drops in June).  If it's another 'IT' thing like Wii or Ipad then regardless of when it drops they'll be no keeping it in stock.   Until I actually see 'Project Cafe' I'm not making any assumptions as to it's success.

August/September should be a good month to release. June is too early, you need to build momentum into the holiday season.