Reggie Fils-Aime revealed Nintendo's new console and its controller live on stage at the company's E3 press conference today. The new system is known as Wii U, and the controller features a large 6.2 inch touchscreen onto which games can be projected. You won't need to give up your gameplay when someone else comes into the room and wants to watch TV.

The new controller also features motion control, a camera-pointer hybrid, and the ability to have elements of a game projected onto the floor, such as your ball's lie in a golf game.

Existing Wii peripherals will wirelessly connect with the new controller, allowing those self-conscious about their Wii Fit results to view them in privacy.

Not only that, but the new controller can also be used as a web browser and even a magnifying device for on-screen web pages.

And, as you might expect from past iterations of controllers with screens in them such as the Dreamcast VMU, it can also be used to display additional game information during play.

Iwata stressed that the controller is not a standalone handheld -- images on the screen are generated by the Wii U and streamed wirelessly with "no" latency to the device.

The whole system looks great. Nintendo could have something special on its hands here if the software is there.