Nintendo is definitely going to debut its next console at E3 this year, says Game Informer. The gaming mag believes that the new system will support HD resolutions, but stops short of saying whether it will be more powerful or less powerful than the PS3 and Xbox 360, but it will be competitive. Nintendo is already showing off the system to publishers, trying to get them developing new titles for its “late 2012″ launch.

“Nintendo is doing this one right,” an anonymous source told GI. “[It's] not a gimmick like the Wii.”

While we can’t pretend to know exactly what that vague statement implies, this news comes just as rumors are heating up about a potential May 15 price drop that would bring the Wii into the $150 price bracket. If Nintendo does plan to unveil its next console on June 6 (the likely date of its E3 pre-conference), a premature price cut wouldn’t be out of character. Past Nintendo systems have all cost less than $150 by the time newer systems are announced or getting ready to hit the market. Due to its success, the Wii has staved off price cuts longer than the company’s previous consoles.

We speculate that the Wii 2 will be backward compatible with the Wii for both disc-based software and download-able titles, and come with more internal storage for games and applications. GI indicates that Nintendo may cater the system toward the North American market and launch the console with a new brand. While most Nintendo systems tend to launch with a Mario game or another major Nintendo franchise of some kind (3DS launched with PilotWings and Nintendogs + Cats), Nintendo did launch the Wii with Wii Sports, which could be considered a new brand.

We hope Nintendo will have a playable Wii 2 demo at E3, but it will likely wait a year to show the system in playable form.