I'll tell you what would make me happy:
$99 to $149 launch price, play entire back catalog of Nintendo games, add in new games that make use of the controller, with graphics that are better than current gen machines.
That's what I want in a console that is a compliment to my "graphics powerhose" (be it a 360 or PS3).
The reality is, at $99 to $149 for a brand new console, what would anyone expect? I've been telling this to Nintendo fans for the past several months. Don't expect it to compare with PS3 / 360. The size (and inferred power consumption) and price dictates that it won't have the same graphical prowess.
It does improve on last gen, which is all you can expect.
I am not "happy" or "sad" at these rumors. It is only confirmation of pretty much exactly what I expected it to be....which is a good thing.