Now Nintendo has announced Zelda Wii will be released this year - I cant help but wonder if this is one of the last traditional AAA releases we'll see for the Wii platform.  

This year is the fourth year of the Wii and Nintendo has successfully proved their point re: motion controls.  As Sony and MS work towards releasing their versions of motion controls this year and Sony clearly moving into another gear with the PS3 and their wand being so similar (in concept)  to the Wiimote i think it would make sense for nintendo to release a more powerful hd console thats fully backwards compatible but could also enjoy multiplat titles.

Now they've confirmed they're working a motion controlled hand-held it's not impossible to believe that they're also working on a new console as well.

Do you think there is a new console on the way or is it years off yet?

A new DS by then is likely. A new home console depends.

It all depends on Nintendo's hardware sales legs, software sales legs, what the competition is doing, what Nintendo's internal developers want and how their handheld business is holding up at that point in time.

It's possible though and would give the Wii a longer than usual 6 year lifespan.

It's possible I suppose but they would want to ensure the transition is as smooth as possible by continuing to support the Wii for several more years and make sure backwards compatibility, including for downloadable titles, is part of their plan.

If we don't see any new major titles announced at this E3 then I would be looking for them to announce their new system at the following E3 for possible release by the end of 2012.

probably, there has always been a new console in 5 - 6 years

I would say yes...but the new DS and the new Wii can't come in the same year, so...new DS next year?

I heard 2011

http://www.whattheyplay.com/blog/2008/09/30/new-wii-due-by-2011/

Ninty spending a lot of money on R&D and

http://www.eurogamer.net/articles/wada-nintendo-will-release-new-console-by-2011_7

Yoichi Wada said so

End of 2011 or 2012 for new handheld, end of 2012 or 2013 for new home console.

There is nothing suprising about it being due in 2012 though... that's 6 years from launch after all, even the PS2 only had a little over 6 years on it's own. (each region is different with that take-over though)

Absolutely. At least a handheld one.

yes, nintendo will so make one and sony and ms will wait amd be doomed