While Nintendo has naturally said nothing as yet, the online buzz puts the Wii successor at a three to four times performance advantage of the current Xbox 360 and PS3 consoles, promises backwards compatibility with Wii games, has 1080P HD output and a new two-handed controller with a 6-inch touch screen embedded in it.
This rather large sounding controller supposedly also has a six-axis motion sensing capability and is said to represent Nintendo's desire to appeal not only to the casual gaming market it has owned with the Wii but also the more 'hardcore' gaming market who want their platformers and first person shooters without jumping around the whole damn loungeroom.
Much better online gaming capabilities are also expected, while some imagine the Wii 2 will also have at last a hard drive built-in as standard.
Whether any of the supposed leaks and undoubted speculation is true or is naturally yet to be seen, although Nintendo of America's top dog, Reggie Fils-Amie, has reported stated that the next-gen Wii successor won't have 3D capabilities.
Of course, that might simply be a Steve Jobsian-style bit of industrial and corporate misdirection to throw competitors off the scent, but if the graphics card can handle 3D and the HDMI output can also, it's an option that could at the very least be switched on in the future if 3D-capable games aren't available on day one.
There's also the possibility that this new two-handed controller, which some have already concept drawn as a regular handheld controller with a giant screen whacked into the middle of it, could be a 3D display too, delivering 3D elements, cut scenes and other information there, although this seems much more unlikely as it would likely add a lot to the cost of each controller.
Game on, on page two, please read on!
There's also speculation that the Nintendo 3DS could itself be used as a controller for any future Wii 2 console, and is expected to be the mainstay of Nintendo's 3D efforts to date.
Nintendo itself has always taken gaming very seriously, with its wealth of first-party titles an excellent demonstration of the care and attention to detail it takes to make its games alone great reasons to buy a Nintendo games console.
With portable gaming competition hotting up and ultimately limited gaming time being chewed up from the smartphone and tablet market, including the newly more powerful and graphical iPad 2 with new mirroring capability, Nintendo needs a console that is as close to perfection as possible.
Given the fact that Nintendo has been involved in delivering super galaxies of magic and revolution all its own of the past decades of Nintendo gaming nirvana, we look forward to E3 and expect Nintendo to redefine the console gaming experience yet again.
Exactly how it will do that and what it will ultimately look like is going to be the subject of intense speculation from now until E3.
Just as long as they don't call it the Wiiii!