Nintendo's upcoming (tomorrow!) media summit is a big mystery -- which is good, actually, or there'd be no point to holding a media summit to tell us about new stuff. Will they show off a new Wii console there? Most certainly not, unless Nintendo's plan to increase Wii availability for the holiday season involves convincing people not to buy a Wii.
It's a bit more likely that a new Wii will be revealed by 2011 than by ... tomorrow. What They Play's John Davison reports that some developers have already seen an early version of the next Wii, something they're unofficially calling the "Wii HD." According to these shadowy sources, the new console will include some kind of "local storage medium" and high-definition video output.
Davison cites Nintendo's skyrocketing research and development costs as evidence of this new console's development, but we don't even think that's necessary. There's no reason to believe Nintendo isn't readying the next console. What isn't so easy to determine is whether anyone has actually seen it yet, or if we're being told what we want to hear.