In an interesting technical analysis, Nathanial Rumphol-Janc of Zelda Informer attempts to refute the common wisdom about the Wii U, which is that the mix of a weak CPU and powerful GPU allows it to, at best, match the 360/PS3 but will leave it in the next generation's dust.
Rumphol-Janc claims that the Wii U has a sophisticated design in which the GPU actually functions as a GPGPU, which means that it can take on some of the processing normally done by the CPU. The result is an energy efficient, relatively inexpensive system that has a lot of potential in the hands of a developer who understands the GPGPU concept.
The author feels that most developers, who are used to thinking in CPU terms, are simply not using the Wii U as it is meant to be used, and that once they make the proper mental shift, the Wii U will prove to be a very capable machine; not as powerful as the coming systems from Microsoft and Sony, which are like to also have GPGPUs combined with more powerful CPUs, but close enough that the Wii U will not be as far behind its competitors as the Wii has been.
Rumphol-Janc describes the Wii U as "a sexy, misunderstood, true next generation gaming system that requires developers to change the way in which they program." If he's right, we can raise our exceptions for the console.