I sat down last night after Nintendo's 3DS software show case to digest the information that had been presented the last few days. I took time to ask myself the question: “If I was Nintendo why wouldn't I show next to no new content?”

It really wasn't that they had a bad show, it was more like they avoided to reveal that much new information. The answer sudden came to me, Nintendo doesn't need to use E3 as a platform to announce new content. It benefits Nintendo more to show off the content that is coming in the next few months to the press as a why to advertise those product.

I the past year Nintendo has been nurturing it own information dissemination channels Nintendo Direct and various Press and fan events around the globe. These are better platforms to announce new titles as their release date draws close.

There was a study of sorts down a few years ago that came to the conclusion that the “sweet spot” as it where for a title where the two months before the release upto two week after where the title would be in the collective conscience of consumers, before the the “next big thing” takes the spot light. So the titles that would benefit the most from showing at E3 are the ones that are going to be released this summer. And this is what Nintendo has concentrated on, the 3DS titles that will be out this summer into early fall.

Sure they also released information on the up coming WiiU console but they main worked on keeping titles that had already been announced fresh in the market's mind, and these are the titles that will be launching in the two-to-three month period of the launch window. The few “new” titles we learned about where ZombiU, SiNG and P100. But since the WiiU is still a little over 5 months away, according the rumors, there will be a better time to show off the WiiU and it's launch titles. Which is what Nintendo intends to do since an event that only announces the release date and price would be a little short on content.

So we should be hearing more about the WiiU, Animal Crossing, Fire Emblem and a lot of the other items that we had hoped to hear something about at E3.

Nintendo also made news a few months ago when the decided not to attend Gamescom but instead hold evens themselves, we much remember that going to these events cost the company money and it may have been decided that it would be cheaper to this route. Also the new information platforms they use also don't cost very much to use, so from this point forth I doubt that Nintendo will have a “big show” in any of the old expos.

Update: I guess this kindk of proves my theory that they are not announcing things that will not be comming in the next few months. I guess Fire Emblem was announced on accident by Reggie last night after the show. http://www.nintendoworldreport.com/news/30615

Yeah it kind of a shock but this is a direction that Nintendo may need to go. Since it gives them more focus to sell games that are coming out. But it souldn't be that much of a surprise Nintendo has been showing that they have been heading in this direction for over a year now. And people whould call it kind of bannel for a company to say we are now marketing things this way, well in the old view of business that is.

Well there are always slips of the toungue like Reggie had with Fire Emblem that we can look forward to. Maybe this will give the gaming press incentive to push their questions to see what they can leak out.

I actually think there's another element to why the show was "lacklustre".

There's one important element of the Wii U that hasn't even been touched on by Nintendo, yet. The games practically guaranteed to be on the Wii U (like Black Ops II) and the announced ones that got left out (like Ghost Recon Online) are all titles that make extensive use of this important element. In fact, one of the two games I just mentioned has the key word in its title.

That's right: Online. Specifically, how Nintendo Network is going to work in terms of online multiplayer and related features. Note that they also didn't really talk about anything to do with eShop (barring a trailer for Trine 2, or whatever it's called). The only part of Nintendo Network that they spoke about was the messaging system (including in-game messaging, like in NSMBU, and video chat).

While I do think they're keeping all of their significant announcements for closer to release, only revealing certain titles to get interest in the Wii U simmering, I also think they've had to delay some of the reveals in order to finalise their Nintendo Network implementations.

This would be why EA said that they'll be talking about Madden 13 and Fifa 13 Wii U later this "Summer", and why Activision hinted at Black Ops II being on the system, but said they weren't announcing anything yet. It would be why online play for ZombiU and Mass Effect 3 haven't been discussed, and why it took extra questions to even be certain that Friend Codes are no more.

I'm expecting an August Nintendo Direct (probably a July one as well, but that will probably focus on 3DS - covering things like Animal Crossing 3DS), during which Nintendo does the following: announce more Wii U titles, specifically the ones with online; announce an American tour to begin in September or early October; provide the official Wii U release date and price; and discussing their online system in more detail.

This is likely to be followed by their Fall Conference in September, not long before TGS, at which they will probably show off some of the titles releasing in early 2013 (both Wii U and 3DS).

I could not agree more with the OP.
Nintendo direct is probably the best way to showcase games, because it's cheaper and you are still able to put in interviews into them, as demonstrated in the Nintendo Direct Europe, during late april. To begin with they can showcase N-Direct at least once every one or two months and keep it nice and short, to explain some game mechanics, like for example Animal Crossing, which would have been a long presentation about that game if Nintendo decided to showcase that game during the 3DS software showcase.

E3 truly has lost much of its importance.

We live in a 24/7 updated world where the tiniest of leaks are so easily done and instantly spread WORLD WIDE through the internet, and publishers/devs can get a lot of attention through other uses than traditional media at trade shows....

And Nintendo seems to have come to this realization and is adjusting their marketing accordingly. It just that humans don't like change they get use to something and it causes panic.