If they do plan for an
Ouya 2 in an year or two, here is what it absolutely should feature..,
Nova A9600 28 nm ARMv7
2.5 GHz quad-core ARM Cortex-A15 CPU
PowerVR Series 6 (Rogue) GPU
2GB Dual-channel 800 MHz LPDDR3/DDR3
ETA 2013
And it would exceed the Wii U in terms of performance, but at a small fraction of the price.
Before you underestimate the performance, read this article.
http://www.imgtec.com/News/Release/index.asp?NewsID=666
http://www.theverge.com/2012/1/10/2696934/powervr-series-6-mobile-gpu-announcement-ces-2012
Even the earliest PowerVR Series 6 GPUs are promised to be ~ 20x as powerful as the PowerVR Series 5 GPUs powering the Retina iPad. The latter ones are targeted towards high end gaming and target atleast a TF of performance, in line with the Xbox 720s performance. And of the decade I've been following PowerVR, the one thing I can say about them is that they consistently deliver on promised performance.
I am curious to see how the PowerVR Series 6 (Rogue) GPUs will match up against ARM's Mali T604 GPU and Nvidias Kepler/Maxwell/Einstein based mobile GPUs (Wayne/Logan/Stark), though if the past is any indication, PowerVR will eat them both alive.