Could it be? Check out NintendoNext's screen shots from pictures of an actual game in development? Fact or rumor? To be honest, I really don't know. No actual named developer. They do say this is fact not rumor. Look at the pictures they have here.

NintendoNext has received screenshots from several developers giving us a hint as to the capabilities of Project Dolphin. All the developers we talked to said the system can outperform the PSX2, and these pictures are minor specs on what the system can actually push out.

Here, for your viewing pleasure, are the pictures. One developer said the pictures they sent in are from a game that they are currently planning for release on the Project Dolphin, be it this version or another version. Start drooling!

The webmaster Donald Allen also has an editorial written: The Future is Gameboy which is also pretty cool. I would like to know if these pictures are fact though.