Dont take my word on it, even Sean Malstrom say it to his blog:

http://malstrom.50webs.com/disruptionchronicles.htm 

The article goes on to why there will never be a Wii 2, why the Wii will have a longer lifespan than the PS3 (and the PS2), and what exactly Nintendo’s next console will be.

And for practical reasons, why Ninty will change their console after 5 years if theres nothing to improve upon? It'll just alienate the current users, developers/publishers if they'll change their console. We even have yet to see decent quality titles from third parties and to keep it safe we will see these quality titles early 2009, 2 in a half years after the Wii launched. And 2 in a half years after that they'll change console? WTF?!!

I think the Wii will be more like an ipod/gameboy thingy that they will have different versions of it using the current hardware but never outphase the old ones. Make the new ones have increase in price and make the older models in budget price. That way, the Wii will have longer lifespan and make the console novel again.

Forgot a link, but I think I know what article you mean. I saw it about a year ago.

No, they can't go that long without at least updating the graphics.

I'll never use a link since everyone knows Sean Malstrom already, but for the benefit of the doubt I'll post the link on OP post

This is one area where I actually think malstrom is wrong.

No sooner than 5 years and no longer than 7 years.

Although I think Wii will have a long life, I think that Nintendo will have to release a more powerful and HD console before Wii is 10 years old. Sony showed that coexistence of old and new console is possible, Nintendo, now that Wii's success will force it to increase productivity even more than now, will be able to afford producing and selling two different home consoles, gradually switching plants as the newer grows and the older fades away.

It's hard to say. The wii isn't a typical game machine. Clearly it isn't selling because of it's cutting edge technology, and I'm willing to bet a large chunk of it's user base (the "casual" side of it) isn't going to care too much about buying a new console in a few years.

Well its Malstrom who said to his blog, and his research are always right all the time. He even predicted the Microsoft's rumor about the motion controller thingy, so he have 80 percent credibility. Unlike Pachter and what console Ninty will made after 5 years? Wii with updated graphics? VR console? Wii with Wii balance board already installed?

I think it's possible but highly improbable. Hell, being right 99% of the time ain't that bad. I still love the guy.

The Wii did change EVERYTHING and create a new market.

Hell, I could buy Wii games for the rest of my life. They could release a new Wii 2 with new features but still support the Wii 1. In fact, I think that's what will happen. Just like the NES, SNES, PS1, and PS2. I don't think the upgrade will be iPod style though. I think Wii 1 games will keep being made long after the Wii 2 comes out. Hell, crazies are still making Dreamcast games, aren't they? In that sense, the Wii will last forever.