I would have made it about 20 minutes longer and spent a little less time on Smash. I'd have included Devil's Third, Mario vs Donkey Kong, Mario Party 10, Fantasy Life localisation and the eShop sizzle reel.
I'd also have started with 2014 titles and finished with 2015 titles. For the rest of 2014, Nintendo have Wii Sports Club physical release, Art Academy, Hyrule Warriors, Bayonetta 2, Captain Toad and Smash, plus eShop games--I'd have gone through the content in that order, finishing 2014's news with Amiibo. Then start going through Mario Party 10 (presumably 2015), Mario vs DK, Mario Maker (those three as part of the same segment), then onto Kirby and Yoshi, then Devil's Third, Xenoblade Chronicles X, Miyamoto's experimental titles very briefly, Splatoon, and finishing on Zelda.
I thought the developer's story format of announcements were good, the Robot Chicken style sketches were fun, and the overall format far better than the Direct last year. It was just too brief, too abrupt, and didn't quite have the right structure for me. Finishing on a character reveal--a niche character at that--is odd when you are revealing Zelda. The Zelda reveal was the BBC's top technology headline yesterday online, it's something that reverberates into the mainstream, and Nintendo should have taken advantage of that.
I understand structuring it like this doesn't leave much room for 3DS. I would have had another Digital Event today, 30 minutes, with 3DS eShop releases, the Sapphire/Ruby remakes, Smash, localisations like Fantasy Life, some Monster Hunter info, finishing on whatever title is being announced in the Q&A session. If you're going to relay your news directly to fans, announce this new 3DS directly to them instead of having the press event.
Overall, I thought it was good. 3DS was bound to get less focus, it's already a fairly successful machine with mainstream awareness. Wii U is struggling and needed the platform E3 presents, so Nintendo can carve out the most profitable niche possible over the next couple of years.
So, good announcements in the wrong order, too much emphasis on certain tidbits (mainly Smash unveils), but the format--the sketches, comedy, Luigi Death Stare reference, developer stories--and the content were great. I didn't see them revealing an online multiplayer new IP, or demoing experimental prototypes to press, so kudos.