Hearing all this stuff about the 3DS makes me feel like Zapp Brannigan in the Amazonia episode. It's like my body can't take the awesome anymore. I am spongy and bruised despite my willing spirit.
Short of announcing it dispenses puppies covered in ice cream, I'm failing to see what the system lacks right now.
To play devil's advocate, knowing Nintendo, the internal memory of the system is going to be small. Game sizes are reported to be 2GB at max. I could see the internal memory being capped in the low gigs, which would limit the number of installs. That would be a "soft" antipiracy measure. I better not find out there's a limit to installs per game card. That would be deal breaker of the damn century.
The other rumor is that the system innately connects to available wifi networks covertly, and that through this, antipiracy measures could more or less be running 24/7. Basically Nintendo could be having software updates being installed consistently, negated the usability of flash carts and the like. Of course I expect it to be cracked within a few days. I could see it working better if the 3DS was 3G enabled, but nothing suggests that at the time being, and I'm really doubting Nintendo to go after that kind of tech since it would be an added cost.
That 8bit stuff? So.

ing. Want. Holy. Damn. Give me give me give me give me GIVE ME.
I think the only other feature missing at this point is the ability to offload Wii VC games onto the system for portable gaming, alongside a game save cloud like Steam has. I would have a heart attack.