Nintendo went all in and spent years developing a very highly customised, almost unique GPU arch in order to do something that R7xx could do on its own - deliver Xbox 360 level performance.
Nope. Really not feeling it.
A lot of posters base their statements/assumptions on Nintendo/AMD/IBM simply being incompetent.
Frankly, I can't see that at all - they deliver a console that is capable accepting ports from PS360 straight out of the gate, runs at half or one third the power draw of the PS360 at the same process node, maintains backwards compatibility with their previous generation console, and is engineered to very low cost (apart from the fact that it includes the tablet).
It is pretty well done as far as I can see, even if cost control was a step (or two) too high on the list of priorities to suit me personally.
We're lacking a few definitive statements regarding the internals of the GPU that would be interesting. Available data has been wrung as far as is possible, I think, so new information has to become available, and a credible leak is really what is needed.