Most of the news so far is rumors but there is some confirmed information (from Nintendo no less).  For those that do not know, Project Cafe is the codename for the next generation Nintendo system:

• Release date is somewhere after April 2012 (confirmed by Nintendo)
• A possible REAL name for the system is "Stream" (rumor)
• Project Cafe will be more powerful than the PS3 and XBOX360 (rumor; but very likely)
• The controller will be a traditional gaming controller with a 6" 720p touchscreen in the middle that will allow games to be streamed to it (rumor)
• Project Cafe will be backwards compatible with Wii and GameCube (rumor, but very likely)
• Project Cafe will be playable at E3 2011 (confirmed by Nintendo)

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