Do you mind if I ask what else he had to say about the GPU? How much RAM does developers have access too?
Sorry, I couldn't recover the log from the crashed harddrive image so everything I say is from memory and potentially faulty.
What I remember he said about the GPU is that it's kind of like Gamecube/Wii's in terms of programmability, but with less TEV-like stages. He said that the studio he was working with had no problem emulating the effects in GLSL shaders for development on PCs.
In both cases that was one of, what, 4 high performance cores? It's insane that in the 3DS, which already has terribly under-powered CPU cores, a full half of that potential power was locked away.
No. In PSP's case there were two MIPS CPUs, and you could use one of them. I don't know what system code was executed on the other one, but I imagine that it was kept off and/or low clocked as much as possible. The official PS1 emulator did use it, though (for audio processing). I imagine it's similar on the 3DS, although an ARM11 core under 300MHz shouldn't consume much power. I expect that most of the power consumption on the 3DS is from the screen, then the GPU. Its battery isn't very small relatively speaking, it's at least bigger than what was on any DS.
Regarding price, Nintendo will sell whatever they feel they can get away with, making as much profit as possible. They don't follow Sony's business model of selling at huge losses in order to increase the install rate and potentially sell more software licenses because they don't feel they need to; instead Nintendo sells at similar prices to the competition but much weaker (and thus cheaper) hardware.
Look at the Wii and you'll see exactly the same thing, only it looks more attractive because PS3 was so expensive at launch that $249 for Wii seemed like a bargain. But in reality, the profit margins must have been much higher than the they were for the $99 Gamecube. Just like with the 3DS, Nintendo was banking on the appeal of their first party software designed with some new gimmick in mind to sell the hardware. And Nintendo held on to that $249 price point as long as it could, even after the much more powerful XBox 360 dropped to $199 (for the more basic version anyway).
Since 3DS isn't selling that well Nintendo might lower the price, but it'll probably depend more on how Vita does. They probably don't mind much losing greatly to DS.