After thinking back to the last ND, they may do something very similar to that. If people didn't notice during the time they were having the ND they had IGN, and probally other media outlets at their office playing the games that they were showing on the ND. So once the ND ended, IGN was able to come out with their impression of the ND and their hands on experiences with the game. I was orginally thinking they would do what they did last year without the big conference, have a ND on Sunday then wait to have the press experience it. But the lag between hearing about the new games and playing the new games may hurt them, since they will loose mind share once the things come out on Monday with Microsoft's and Sony's pressers.
So they will probably have a 45minutes-to-1hour ND that starts after the closed door meeting starts. They will present an abridged version of the ND live for them and then let them get to the demos. So once the ND direct finishes they can give their insight on the new games/announcements almost immediately. So in weeks coming up to E3 they will probably have three ND, one to cover and show more of games we already know about for the WiiU and 3DS (each one show) and then the E3 show where they will make announcements. So to those at home it will be almost like they are still having the presser.
As for those who miss the antics, I'm sure based on what I seen on other ND there will be antics and skits to talk about. Some of these are better then what they had for the E3 shows. Plus Iwata always at least hosts the majority of the ND, though Reggie needs to have better parts.
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