I'm not sure if I'm big on the design, asthetics wise. I like the fact that it's very small, but that's also a bad thing. The console looks like some drive I would put in my PC or a cable modem. Remember though, this is my opinion so it's not exactly valid.
You call this a secret weapon? I can already do all of this all on a PC with emulators. Hell, I'll be able to do it soon with the PS3 or X-Box 360 because they will have hard drives. Some guy will find a way to convert emulators to play on those consoles like the same guy who's already working on a GBA emulator for PSP.
Nintendo is acting like its the only console with Wi-Fi. The other consoles do have Wi-Fi too you know. In terms of online gaming service, Nintendo is late as X-Box already started its Live! service. I wouldn't be surprised if Sony has something similar for the PS3 as well.
Oh well, I hope I can see what it's capable of with screenshots soon.