But then again, if that's case, no time is the right time.

Nintendo is cold blooded, they will swim in the Pokemon profits and laugh all the way to the bank counting the NES classic easy money while we keep waiting for NX news =)

If they wait till after mid October to reveal the NX, they will confuse the consumer again- Most consumers will assume it is being advertised for the Christmas sales season if they reveal between Oct 15+/- up to X Mas-
That WOULD make sense to most people to see a new product revealed in late October or early Nov to be available for that coming X-mas shopping season

Miyamoto is in the states, so who knows, maybe he and reggie are recording dat direct.

Anytime between now and a few weeks before black Friday would be a good time to me. Just have to give buyers enough time to decide on whether to buy a PS4 Pro or pre-order/save for an NX.

Dude, this post is super biased. I don't think the majority of people find the psvr "cringe-worthy". Playstation just did the right business move by not only announcing that they are delivering things that microsoft has previously promised, but i believe are beating them to the punch. And (interjection for emphasis), they had a much better outing of the actual hardware demonstration than microsoft did. (imo)
Quick second to note, i'm not a sony fan. I'm a nintendo-guy, but these have been my observations of the time spanning e3 to now.
Now, is now the right time for nintendo to reveal the nx? Maybe, but october their preferred timeline for a reveal as that will give them a six month window to advertise the system while keeping it close enough that, i would think, nobody could copy their design..... which they seem to think will happen. (i'm going to throw out my prediction of oct. 27 for a mid-to-late-march release btw).
2 last points. One: all this crazy speculation and hype would probably not have happened if nintendo didn't mention that a console was coming like 2 years ago. However, the irony here is they did so only to stop the speculation that they would be leaving the console business to start a core business of mobile games (smart phones). Two; it is way to early to claim that they are going to "neuter" anyone when we don't even know what the hardware or launch titles will be. The new sony and m$ hardware my actually make the nx seem like a joke in comparison. Maybe not. Who knows?

Wouldn't say everybody's excited for Zelda. Just looks like an outdated Witcher 3 to me. Other than that it does seem to be the right time to unveil it.

Nintendo's Investors are very happy. If NX appeals to the market, that stock price will hit the stratosphere!

lets watch those ps4 sales nosedive as we come into the holiday season, is that what people really think because of the september meeting and psvr public cringe

To expand on the OP: Apples conference, that in previous years has made people exited for all things Apple, will this year probably be remembered for ear buds. There are also not very many hyped mobile games (except Pokémon GO) this year. Candy Crush Saga, Minecraft Pocket or other games will not steal the interest of the casual mobile audience. This could make the Low-Tech-Small-Screen-Handheld experts from Nintendo to be able to get the mobile crowd interested in what NX is.