I' ll immediately start by quoting Nintendo as an introduction, they say it better than I do anyway:

" We will show the world what a next-gen system can be. Revolution marries the strongest heritage of innovation to the future of gaming," says Nintendo President Satoru Iwata. " With backward compatibility and the ' virtual console' concept, the stylish, compact body provides maximum gaming power. It will not only take home entertainment into another dimension by expanding the definition of video games, but it also will give you access to the great history of gaming."


Alright, now for the new facts:

# The look: it will be able to stand horizontally or vertically. Different colours will be available.
# Backwards compatible with Nintendo GameCube.
# More backwards compatibility: there' s downloadable access to NES, SNES and N64 games.
# Wireless: Nintendo® Wi-Fi Connection is a new service for online gaming, fully wireless.
# Freedom of design: just like the GameCube, games should be easy to make for everyone.

And now the (vague) specifications:

The system boasts 512 megabytes of internal flash memory, wireless controllers, two USB 2.0 ports and built-in Wi-Fi access. A worldwide network of Nintendo players can gather to compete in a comfortable, inviting environment. Revolution' s technological heart, a processing chip developed with IBM and code-named " Broadway," and a graphics chip set from ATI code-named " Hollywood," will deliver game experiences not previously possible.


Let the next console wars begin! :)

Nothing revoloutnry there but i feel the ' revoloution' is in the controller. Still ps3 is my fav if they change that controller.

Update
The Nintendo Pre-E3 conference ended about five minutes ago and here are the highlights of the show.

# The Nintendo Revolution was shown, just like we had said (while most other sites were saying it wouldn' t be displayed).
# There will be a Game Boy Micro, a slimmed-down version of the regular GBA SP about the size of an iPod Mini.
# You will be able to download Nintendo' s entire back catalogue, starting from NES games, with the Nintendo Revolution
# The Revolution is about the size of 3 DVD boxes
# Sequels for Metroid Prime, Legend of Zelda and Mario are in development for Revolution
# Controller design will be revealed later on
# The NDS will feature wireless online gaming, in association with GameSpy
# Elektroplankton is a revolutionary music game for NDS