With only a few weeks to go before E3, at least one of the big news sites seems to be getting a bit antsy, as IGN has taken it upon themselves to cobble together a version of Nintendo's next generation console. Without knowing exactly what's going on with the controller, or any other surprises that Nintendo's going to spring on us, they basically just built a PC with the specs that they've gathered from their sources who have dev kits, then compared the graphical performance of that machine to games that are on Xbox 360 and PS3.
While it's all highly speculative, they come to a few conclusions. First, their mock-up cost about $425, which would be far less for a company that didn't have to pay retail for parts. Additionally, some components could be cheaper by next year when production goes into full swing. At the same time their price doesn't factor in the controller, which could be rather fancy all by itself, or other proprietary technology. They predicted upwards of $300 for the system, which I don't think would surprise many people.
Performance-wise, games on the mock-up they built looked better than ones on the Xbox 360 and PS3, and displayed in native 1080p, but it didn't seem like a full generational leap, at least graphically. Of course, titles developed specifically to take advantage for the system would presumably look a lot better than ports, which most PC games are these days. Whether 3rd party companies will bother to take advantage of that, we won't know until the system is released. At least Nintendo's own games should look pretty sharp!