Hm hm, i see big things for this thread!
The best with all that is the "usual suspect" twist. I love how, if this is true in the end, people will realize it was clear since the beginning and this famous Zelda demo. You just had to look at it to see the geometry is simple, at least for the room, even for the spider, and even the texture are not superior to the most demanding PS360 games. Also don't forget the only native screen we have is 720p without AA. I love how everyone tried to forget that
Also a demo will always be more technically advanced than gameplay, real time or not. And, yes, the first GC Zelda demo WAS more advanced than Twilight Princess. It was just ugly in its design.
Now, i always thought WiiU would be in the best situation slightly more powerfull than PS360 with mode modern shaders making us believe that it was way more. But there is a possibility they go for the cheap route. Just look at the 3ds. Don't forget it's way less in the end than what everyone was expecting. Nor the fact that 3DS show a whole new level at hding the specs limitations by having insane geometry level contrast (always a beautiful normal mapped character and everything is low poly around)
I'll say what i said before. Nintendo games will look great, no prob. But if the WiiU has no "revolutionary control" effect, nor "first step in the next gen!!!" one, it will be tough, at least to convince gamers who are not Nintendo fans.