Back before the jump to 3D, did anyone at all care about specs? Not that I know of. People were busy bitching about how Nintendo had the blood in MK replaced with sweat. I don't recall any talk about specs... Well, there was that "Blast Processing" thing with the Genesis/Mega Drive but most people were smart enough not to buy into it.
So why do people care now?
MARKETING!
Sony came in and applied real marketing to the industry. As in lies, twisting the truth, saying and doing whatever it took to get the consumer to buy your product. How were honest companies (Nintendo, Sega) supposed to compete with that? In a nut shell, they couldn't. And I hope they'll never stoop to that level.
I love the idea of Nintendo not releasing specs, just stating that it's going to be on par with the other consoles graphically. There's been talk floating around that Nintendo's even developed a new graphical display method that lets relatively weak hardware display incredible graphics. No matter what happens, if the games look good, why do you care so much about what's running it? Hell, I don't even care if the games look good! I just want a crack at that new controller.
The industry is being pulled in two directions right now. One is Sony and MS' unending and unwinnable technology cold war. In the end, what will that bring? Umm... a few more polygons here and there, higher res textures? In the end, they won't matter. Technological leaps are getting smaller and smaller. Soon enough most people won't even be able to tell the difference from one generation to the next.
I'm so glad Nintendo decided to go another way, the way where we're actually going to get to play new and interesting games instead of just rehashes of last gen software with a bit of new tech paint slathered on it.
When we see Rev games we'll know whether the system can stack up graphically and if the GC is any indication Nintendo really knows what they're doing even with much weaker hardware. However, when we play Rev games... There simply isn't going to be any comparison.