Ok, so I haven't watched the press conference yet. I'm at work, and I have it recording at home. However, I did find this thread on Reddit:
http://www.reddit.com/r/gaming/comme..._u_fact_sheet/
Just from looking at this, I can't see how this a disappointment of any kind. The console is small and at least decently powerful. It has HD, which is the big thing.
The controller actually looks really awesome, to me. I'm just overjoyed they're moving away from motion - I can see them doing some really fun and interesting things with this set up. Screen may be large and clunky, but I find that superior to small and hard to see and use.
And, sweet crap, look at that third party support list. Batman, Battlefield, Darksiders, Ninja Gaiden, Assassin's Creed?!