I think we're looking at a 3DS-like system, which still isn't powerful enough for those that slobber over the PSP2. I can't imagine Nintendo changing their philosophy on hardware between their handheld and their home console, considering the 3DS just came out as an example of what they're thinking with hardware.
I mean, there's a thread speculating "how PSP2 games will play" as if it doesn't have pretty much the exact same inputs as a PS3 with comparable power. I dunno, they'll probably play like PS3 games. I can't imagine the Wii 2 will satiate these people. Not to mention, you're still looking at a compromised online space, albeit improving.
Nintendo said they wanted to get "the hardcore" back with the 3DS, but then PSP2 came, even bigger and more powerful, and stole away the imaginations of some people without even showing a game. Ultimately, games are what will matter, but if you're looking to hardware, I find it hard to believe that Nintendo will be that cutting edge. It's not playing out in the handheld space, and they just released their latest hardware.