"If that's really Nintendos next home console they're doomed."
And since Nintendo is doomed that must be their next console!

A fair bit of this does make sense to a point. Pretty much anyone can guess at a hard drive for example and be correct and given Nintendo's history of using their own format the medium sounds realistic as well. The release date of late 2005 is possible too in Japan. Nintendo plans on releasing their system between the other two. Since Xbox Next launches this year and PS3 next year then obviously the "Nintendo 21" (what the hell does that mean?) has to launch between. A late 2005 Japanese launch coincides well with a spring or summer 2006 American launch.
The "rubbing" stuff fits the rumours of touching and feeling. I don't know how it would work though. In a way I kind of hope that's real because it sounds so minor that I don't have to worry about the controller not working with old games. Realistically Nintendo could make their weirdo "feeling" game that no one cares about while third parties can make normal games.
The "Home Game function" sounds like an alternative to online gaming that won't work at all outside of Japan. So it sounds like it's right up NCL's alley.

This one I'm quite skeptical of. Nintendo might have been very anti-online this last gen but I think it was more of them trying to downplay the competiti0n who were promoting online as a major feature. Nintendo didn't want to go online yet but Sony and MS did and much like with the cartridges Nintendo unsuccessfully tried to bury the concept so that they didn't look inferior. I'm sure that now they do plan on going online. They want to do it they just didn't want to do it as quickly as the other guys. The Revolution will be online. It has to be. I fully believe Nintendo will go online next gen until they say outright that they don't plan to.
Overall this looks like a pretty lame console design. But Nintendo hasn't exactly been on the ball lately so there is a chance it could be legit. Nintendo making a lame console is not entirely unexpected.
(Why is "com-pet-i-tion" censored? Can't we talk about something other than how perfect Nintendo is on this board anymore?)