Despite what your friends might have thought, the Dreamcast had amazing graphics. They might have said that remark about Madden on the PS2 because the Dreamcast commercials sucked and didn't reveal its true ability. That is one thing Sony has kicked ass at, is marketing. No matter how crappy the hardware may be, if it LOOKS great even though you spend MORE time waiting to play it, people in general won't care. I mean, take a look at the VGA ceremony that Spike TV held: can you get any more obvious than that? That show was basically a representation of what casual gamers think, and the proof is there: If it shines pretty, has big boobies and violence then its a "great game".
Anyways, back to the subject. I really really REALLY hope that Nintendo launches the N5 either late 04, or early-mid 05 simply because that would be enough time where the casual gamer wouldn't want to wait for another console due out 6 months to a year later. Launch the GBA2 either sooner, or later, not at the same time. Definitely before the stupid PSP. It just reads N-Gage to me, but you simply can't take that risk.
Honestly, I don't think any of those dates should be considered wrong. The next-gen games have been announced for quite some time and another 6-10 months should be enough to make them decent enough for a launch. Besides, toss in backwards capability and even two or three killer launch titles will carry it with the GC's titles as well. Anyways, what has been said should be considered as close as it gets to reality until E3 this May. I expect everything to be revealed then, in terms of what the new hardware is, GBA2 and N5. If not, Nintendo could do the N5 by restarting Spaceworld and announcing it then. It may be the last company to release the hype, but at least if they do it right it will be the one that remains on everyones mind.
Now here comes the best business decision they could make: announce the release of the N5 for Christmas 2004 at Spaceworld. Announce some tid-bits at E3, but drop the bomb at Spaceworld. Blitz the media with tons of hype, ketch Sony and MS with their pants down. AND, when they plan on releasing their systems, RELEASE THE GBA2! Boom, saturated the market with too much to choose from, make the GBA2 cheap enough to be the obvious choice. Sure, the PS3 will sell tons with its loyal userbase at launch, and same can be said about the XboxNext. But not as much with the GBA2 out then, and that will be what the casual gamer will want. Damn it, why can't I be the marketing strategist at Nintendo? I know this will never happen, but if it did Nintendo would be on top... *sigh*