Slither - Perhaps the best written analysis of the conferences so far (and I've read a lot).
Maybe my standards are a bit low, but I actually don't think that Nintendo is compromising very much on the graphics side. Zelda and Red Steel (I think that's what it was) looked pretty good to me. I understand that developers will be able to make these titles for less money too. If I can save $10-$20 a game than Nintendo is the obvious choice... so I lose High Definition graphics - big deal. #1 - I don't have an HDTV and won't for a while and #2 - the innovation in the controller easily compensates for any other shortcoming.
But the real question is what will be popular in December.