Donkey Kong Country was the last big first-party home console release. Kirby's Epic Yarn came out before, but only the PAL version was delayed. In addition, Epic Yarn was made by Good Feel, a second-party developer.
As for this year, we obviously know Nintendo's in-house development teams are working on Skyward Sword and Rhythm Heaven Wii. Only Monolith Soft has confirmed to be working on a Wii U title.Hal Labs, a second-party developer, is working on Kirby Wii.
Back on the Wii launch lineup, the only big title was Twilight Princess, a GameCube port. Nintendo had nothing to offer in terms of first-party titles besides Wii Sports. Monster Games, a second-party developer, had ExciteTruck ready at launch. Super Paper Mario, Mario Galaxy, and Metroid Prime 3 came out at a later time the following year. PAL Gamers had to wait until September 2007 to play Paper Mario while Japan got it in February and North America in April. Prime 3 wasn't ready until Q3 2007 and Mario Galaxy was the big holiday title.
With the Wii U, I think it will have a better overall aunch lineup with more variety of software because third-parties will be there to offer filler. Of course, most of it will probably consist of current-gen ports. On the bright side, those games are mature so the platform will have a lot of mature games available right from the start.
I agree that Nintendo was not well prepared for the 3DS launch. There just was no killer-app software and third-parties still haven't stepped up to the plate (I suppose Capcom comes the closest). However, the second half of the year is going to be better, at least in terms of first-party software. Ocarina of Time already came out and there's Mario 3DS, Starfox 64 and Mario Kart to look forward to. Plus, Luigi's Mansion 2 is scheduled for next year. Animal Crossing and Paper Mario are most likely coming out in 2012 as well. As for as Zelda goes, Nintendo began development of Phantom Hourglass in May 2004 but the game didn't really take shape until a year later. In 2005, Iwata confirmed Phantom Hourglass was in development for the DS. The game was first shown in 2006 but came out in 2007. The title came out in October 2007. Spirit Track's was announced and released in 2009. Miyamoto said that Skyward Sword was being worked in 2008. However, Skyward sword's development began after Phantom Hourglass was finished but before the development of Spirit Tracks. Skyward SWord wasn't officially shown until 2010. As for Ocarina of Time 3DS, it was made by Grezzo, a second-party developer. Nintendo released Wind Waker for the GameCube in 2003. Then Twilight development began in 2003 . Of course, the game got delayed by a year in order to polish the game and offer a Wii port in time for the Wii's launch. The game was shown off in 2004 and orignially scheduled for release in 2005. Aonuma was also busy working on directing Zelda: Minish Cup at the time of TP's development.
Obviously, it was Iwata's fault for announcing Smash Bros 4 prematurely. I am a bit concerned about how development is going to be. Sakurai said he'll once again be teaming up with outside developers to work on the project. However, it's hard enough making 1 big game but now he's got to make a second but different version for the 3DS and with some form of cross-platform play. It sounds like it will be a potentially chaotic development cycle for Sakurai and his team. Smash Bros. Brawl took somewhere around 16-20 months to make .I think we'd be lucky to get Smash Bros 4 by holiday 2013. Besides, Sakurai probably won't even be able to have teaser trailer ready for E3 2012.