Well, bits of it anyway.
Update: Thad has a picture of what this beast might look like.
To me it all sounds like a way to make another Game Boy without appearing to make another Game Boy. And focus on games aside, I wonder if it will appear underpowered next to Sony's PSP. Even when 3D capabilities don't seem such a major selling point on a handheld device. On the other hand, Nintendo still knows how to make great games.
Update 2: More concept art.