Game Informer has it on good word that Nintendo is currently showcasing their latest console to 3rd party developers and that it will feature HD.
Not many details are available - just that something is in the works. It's not known, whether or not, the new system will equal or surpass the PS3 or XBox 360 in the graphics dept., or if it will be backwards compatible. It's not even known if this is a version of the Wii - or a totally new console.
It's expected the official announcement might come at next year's E3 - if not sooner.
With the new console, Nintendo is shopping it around early to increase third party support - unlike the way they did it with the Wii. Some developers weren't even aware of the Wii until it was announced, which lead to the thinking that only Nintendo products would sell.
The new HD feature also might help get the console more popular and better selling titles, GI notes. And they also say the news couldn't be coming at a better time, as sales for the Wii have declined a bit and Nintendo is expected to announce the price for the Wii to drop on May 15th.
Stay tuned as news on "Nintendo HD" develops!