Hm... the system looks cool, and I like the blue light, but I am not overly impressed with Nintendo's "Revolution." I don't understand how it can be backwards compatible with the GameCube if the disc slot is too big. Granted, the ability to download all of Nintendo's console games is cool, but don't believe for a minute that you can download their entire library of games. The only games you would be able to download are Nintendo published games. Everything else, such as Konami, Square, etc, they would have to get special permission for.
It seems on par with the rest of the consoles in terms of capabilities, but the way Nintendo was talking it up, I was expecting something we had never seen before. The fact that they haven't shown the controller scares me. If it is something so different that they won't show it, then I don't know that many people (including myself) will want to try it.
The fact that you have to add something to it to play DVDs sucks.
At least online SSB sounds cool.