Over the last week or two, all kinds of rumours have been swirling around the internet about the Wii 2 (Project Cafe). What is known is that is a HD console, and the controllers will have screens on them (how’s that for an expensive controller!) and it will be backwards compatible with the Wii. There’s a large chance that it will be announced at this year’s E3 presentation. The rest are all rumours.
If you want more information from someone that posts more than me, try this guy.
Update: It has been now announced at E3 that it is actually called the Wii U. More on that later