By Bryan Lufkin
Updated April 21, 2011 at 06:35 PM EDT
Credit: Nintendo

Gamers and Nintendo fans across the globe are squeeing with giddiness over a crop of rumors that have exploded onto the scene in the last week: Multiple gaming news outlets have reported that Nintendo will reveal its successor to the motion-sensing money-maker, Wii, at E3 this June.

But wait! Didn’t Reggie Fils-Aime, President of Nintendo of America, say the Wii would have to sell more units before new hardware would be announced? Didn’t Nintendo say they wanted to capitalize even more on their new expanded audience of “casual gamers” before setting the Wii out to pasture? Didn’t they just release their new handheld console? And doesn’t sorry seem to be the hardest word?!

Right on all counts, but here’s what the interwebs are saying about Nintendo’s upcoming home console, supposedly code-named “Project Cafe.” All aboard the Hearsay Express:

–The new controller will include a six-inch screen that will stream game images from the console to the controller, like a “mini-television.”

–The console will be capable of running games at “HD resolutions,” making the device stiffer competition for the Xbox 360 and PlayStation 3.

–It will be backwards compatible with Wii games.

Many think the writing is on the wall for a new console announcement: It’s been five years since Wii’s launch, and traditionally, Nintendo has spaced their home consoles out in five-year intervals. Wii sales have also dipped, and Engadget reports that the system may see a price cut in order to move as many units off the market as possible in coming months. Mario creator and Nintendo gaming guru Shigeru Miyamoto addressed the rumors in an interview with French gaming outlet,, citing that Nintendo products typically do need five years in R&D before becoming ripe for the picking, but otherwise playing coy whether all these rumors have any truth to them at all. A Nintendo rep told EW, meanwhile, that the company “has not made any announcements pertaining to a new console,” and they would not comment “on rumors or speculation.”

Indeed, as enticing, widely-reported, and heavily hinted-at as they may be, they’re still just rumors. But if Nintendo were to announce the “Wii 2” this June, would you do a double-jump power-up of excitement?