Information comes from IGN:

– retail cost somewhere between $350 and $400
– will ship from Taiwanese manufacturer, Foxconn, this October
– could release sometime around mid-October and early November
– built on revamped version of AMD’s R700 GPU architecture
– will be better then PlayStation 3’s NVIDIA 7800GTX-based processor
– CPU will be a custom-built triple-core IBM PowerPC chipset
– 1080p output with the potential for stereoscopic 3D as well
– could be about the size of the original 360
– likely to resemble a modernized version of the Super Nintendo Entertainment System
– utilize controllers with integrated touchscreens and be capable of streaming games to each controller
– Nintendo considering naming the system Stream, but there are several other names being considered

IGN says their sources are reliable.

With the deluge of information leaking out in regards to Nintendo’s Project Cafe/Wii 2, many are bound to wonder who these mysterious tipsters are. We, of course, can’t say, but I wanted to comment more directly on the matter of today’s post, Project Cafe: The Tech Behind Nintendo’s Next Console.

What it really comes down to is trust. You trust IGN as a reputable resource for gaming news, features, and reviews, and we do everything we can to maintain and preserve your trust. Though some may claim otherwise, every story published citing an anonymous source is based on information we believe to be credible and true from reliable, trusted sources. If a story or tip seems flimsy, we don’t run it, or do our best to indicate when a story seems questionable.

It is also important to keep in mind that information, specifically that which pertains to pre-release technology, is always subject to change. While the information we receive may be true at the time it is given, manufacturers may change their plans drastically before public release, which we also make an effort to emphasize.

I, of course, would love to explain why I know the information we received about the Wii 2/Project Cafe is legitimate, allowing you to share my excitement for knowing it to be true, but I can’t.

link