Nintendo to Reveal New Console at E3?

According to IGN, Nintendo will be revealing a new console that is higher powered than the Xbox 360 and PS3 at this year's E3.

Game Informer is also claiming the same thing by citing mulitple sources and that the new console will be able to run games at HD resolutions.

The new console is expected to get a 2012 launch and Nintendo is supposedly hoping that they can bring back third-party developers and "hardcore" fans.