Would not be surprised to start seeing only the first party developed titles being platform exclusive anymore.
That is the exact situation Nintendo needs to and wants to create.
Why? Because then they automatically win.
Assuming all things about the 3 consoles are similar enough (graphics, online, storage, UI, controls) If you can get all the 3rd party gems on all the systems and they all look & run roughly the same, then your only console purchasing decisions come down to which 1st party games you want to play and which unique control style you prefer.
Nintendo has:
Mario & Zelda (the list could go on, but why bother)
Sony has:
Killzone? Uncharted? Rachet & Clank? LBP? Jax & Daxter? ?
MS has:
Halo and ummm..... Rare?
What incentive would most people who call themselves gamers have for not buying atleast the Wii2 and maybe one of the others if they really need their Halo or Uncharted fix?
If the console can support the latest and greatest version of the Unreal Engine, then it'll be cake.
I also want to see a unified account policy. None of that crap of limiting your content to one console, and then begging to have the content moved to a new system if your current one dies or you decided to get a different color.
They should plan for a 10 year cycle with this console. Do the specs accordingly. Maybe it'll be pricey off the bat, but it won't be long before that price drops and they'll be at a lower price tier once MS and Sony release new systems.
UE 3.9 or whatever it is. yes, definitely make sure the hardware is powerful enough to support the new UE. No more excuses from anybody.
User Accounts - please do this. I'm actually hoping they start it with the 3DS with the big system update. User accounts attached to your My Nintendo account. Also 3rd party games registerable too. That would show some good faith towards 3rd parties too.
10 year life cycle!? hell no.
Keep planning for the 5 year cycle and make your money now. The Wii will continue to sell for the next 2-3 years to the late adopters while the rest of us enjoy our WiiTuu. Mean while Sony & MS can go broke chasing the Technological Dragon and only starting to recoup cost right when Nintendo is dropping another profit driven console that out classes their current offerings. 10 year cycle is BS and Sony's & MS profit line proves it. Sony will never recoup the cost of PS3 unless it's the only system they sell till 2020. They've lost all profit from PS2 gen + some and the only reason they didn't lose more was because the PS2 was still selling well for the first 2 years.
10 year cycle is a bust and was truly just PR spin for poor planning of a trojan horse product.