May I just say that Greg is a real champion, not only for recording each show at obscene hours of the morning and editing every week, but also for sketching the notes for all the feature discussions. If I were you, I'd have mutinied by now.
I think the crew was right on the money with the 3DS predictions. With the eShop going live hours earlier, Nintendo should treat the 3DS portion of the show like Launch 2.0 - not in those explicit terms, of course, but obviously, the 3DS, despite breaking a few Day 1 sales records, isn't doing too well, and I think a large part of that can be attributed to people looking at the line-up and thinking "for $250, there's not really anything I'm excited for right now." That means that they won't waste time with graphs and charts like they did with the first E3 after the Wii's release; it needs to be all out games, games, games, in order to convince the sceptics that they want this new handheld and not the NGP, which is being shown off that same morning. And the fact that the eShop launch was seemingly pushed back so deliberately to the day before the conference indicates that it might get a little more than a fleeting mention.
As for the new console, considering that one of the few details Nintendo gave was that it would be playable at E3, it would be remiss of them to be stingy with what they show and what people can get their hands on. Otherwise, they would run the risk of underwhelming, as you discussed. So while I don't expect an enormous blow-out of information and game announcements, there has to be enough to see and play that people come away with a proper impression of the console, as opposed to coming away confused and unsure of what it's all about.
One thing I would find absolutely hilarious is if, after all the talk about the idea of a screen in the controller and all the rumours surrounding that, Nintendo show the console and the big new feature is something completely different.