Wii U power (speculation thread)

[Angrist]

Recently there have been numerous reports on the specifications (raw power) of the Wii U.
I've read the following:

Team Ninja says the specs have been changing all the time.
Epic's Mark Rein likes the console and thinks we'll all love E³.
Darksiders 2 developer says the Wii U version of the game will be on par with the other versions (PC, PS3, 360).

Now there's a rumor that says Wii U is less powerful than PS360. Anonymous without any specs given... I personally think that's bullocks, especially considering that Nintendo has been listening carefully to developers about what they want from the hardware.
Also, PS360 tech is 6 years old. iPhones come close to that power. I doubt that Nintendo will underpower their console so badly. (Wii had the excuse that it was heavily based on GameCube tech.)

So three questions: what do you personally think the Wii U's power will be?
How much power do you think it needs??

And do we really need 10x as much power next gen? There are developers who say the day graphics can't become better is in sight.

E³ can't come soon enough!