It will be pretty much on par with the Playstation 3 in terms of power of the hardware, but i think its too little too late.. This is only going to be as powerful as current generation systems (360/PS3) and with the new Sony / Microsoft systems slated for around a 2014 release you really have to wonder why Nintendo is even doing this.
Once again the controller makes it gimmicky, so a lot of people will buy it.. But with Sony/Microsofts new systems on the horizon i dont see the point in buying the Wii U unfortunately.