From QJ: "No matter how much one will argue based on previous statements by Nintendo, the Wii is in-fact a Nintendo Gamecube redesigned! I've been told this several times by a friend of mine who just detests this poor little console, but I'm still a firm believer in the new design and controller. I'm in it for the gameplay, not the graphics (like many of the Wii enthusiasts are).
Well, it seems that the "Wii's brains" have finally been uncovered from an IBM datasheet which discussed, in essence, displayed that the Wii's broadway CPU is only a redesign of the Gamecube's Gekko CPU in a smaller package and faster performance. In the past there were several rumors that the Wii would be able to compete with Sony and Microsoft's next generation consoles in terms of graphics, but with the recent screenshots (I'm looking at you Farcry!), it is anything but that."