This system is gonna end up being the equivalent of the Wii U and 3DS libraries merged, along with some indie and major dev support. I wouldn't expect too many games to ever come out on the system that exceeds the 13GB download of the new Zelda game and you can get a 128GB micro SD card expansion for $40 right now.
My concern with this system has very little to do with the device itself, but rather the way Nintendo presented it. Way too much emphasis on stupid stuff that's only appealing to kids under 10 in the presentation, when they had none of that in the initial reveal trailer.
I'm holding off until Nintendo defines what they want this system to be. Do they want it to be a beefed up 3DS or another shot at the gimmick that won people over with the Wii. If it's the latter then I'm gonna pass.