The publication says it's hearing from multiple sources that Nintendo will announce a new home console at or before E3. According to hearsay, the console would arrive in 2012 and would sport HD graphics, though GI's sources are conflicted about how said graphics would compare to the Xbox 360 and PS3.
Well, there goes our "Schedule Vacations for E3 Week When All The Video Game Journalist Resorts Are Super Empty" plan.
Update: IGN found some anonymous sources of its own, who claim that the new console will be backwards compatible with all Wii games. Its sources say that the console is "significantly more powerful than the PlayStation 3 and Xbox 360."