Sources also said that its processor will be stronger than the PS3, rocking a revamped version of an AMD R700 GPU. Like the XBox 360, this Project Cafe will also have a custom-built triple-core IBM PowerPC chipset but the clocking speeds will be faster. Project Cafe will also support 1080p output and maybe stereoscopic 3D as well?
Sources also say that its design will look like a modern day Super Nintendo Entertainment System, which makes me feel a whole lot better about this system and Nintendo remembering where they come from. As for this new console's controllers, sources say that they will use integrated touch screens and be capable of streaming games to each controller, though given the power of the system, it could also be feasibly to provide a virtualized console for each individual unit. This is sounding better and better each moment.
As for names, none are set in stone at the moment, but I like "Stream." Miyamoto was asked if Nintendo would release more information on this console at this year's E3. He responded with "Please wait. Be patient until we decide." So cross your fingers for some info on Nintendo's next generation console at this year's E3.