For those wondering how powerful the Wii 2 will be, we have good reason to think it will be powered by either the AMD Krishna or the AMD Trinity SOC. The AMD Trinity seems the most likely at this point since it's built on 32nm.
http://www.neogaf.com/forum/showthread.php?t=423724&page=5
The AMD Krishna is designed to be usable in netbooks and tablets. Krishna uses Bobcat cores that are "AMD's mobile architecture for netbooks, nettops and ultra mobiles."
The Trinity APU is designed for desktops and mainstream laptops and uses much faster Bulldozer cores. Trinity is a combined CPU+GPU in one.
Odds are, Nintendo will be opting for this. It would be downright stupid of this to opt to use a cpu designed for netbooks over a SOC designed for mainstream laptops and using much faster bulldozer cores.
Even using the Trinity, there is a small chance that Nintendo is opening themselves to get leapfrogged by both Sony and Microsoft when they launch in 2013-2014 and become the defacto baseline graphics for next gen games. But if they opt to go with the significantly weaker Krishna, this is pretty much a certainty and we would have a repeat of this generation with MS/Sony getting all the third party support and attention.
So here's hoping they're using Trinity.