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I have to say though, if it is based on the 4770 then its 3 generations old and is very low end, it is a disappointment for a new console to have such a poor GPU, as it was rumored to be based on the vastly superior 4850.
Intel Pentium Pro @155mhz - 2MB 3dfx Voodoo Graphics - 4x 16MB SIMM ram - 32k Modem - Windows 98
Well it's a lot better and more efficient than the 360's (well, just on the cards they're based on) which is a given. I was kind of worried that it would fall into the pitfalls of that the 360 and PS3 are going through now, but it can handle itself well.
But the Orbis and Durango will slay the Wii U in every field techwise.
So, the Wii U is officially more powerful than the Xbox 360 and PS3. 4 times more ram, technically better GPU...but it's, at the same time, worse than the Durazno and Orbis (which are not as powerful as the "rumors" say. Wii U had a lot of rumors saying that it had 4GB of ram and whatnot, not to mention those are probably dev kits...)...hmm...
*Looks at Wii*
Well, developers have said Wii U is pretty easy to developer for. We'll see what happens.