Ok, my thoughts.
It turned out to be what we all thought it would be, a hybrid console and hand held system. I do like the idea.
It better have a really good battery that'll last for a good while. I also hope it'll have a USB cord so we could use portable chargers.
The name "Switch" does make sense. I think it's a better name than Wii U at least.
I think when using the little controllers, they look so tiny and rather uncomfortable, especially for folks who have bigger hands, from my observation. I also hate how the d-pad looks when they're connected to the mini screen. I know it's made that way to be used as buttons when it's a stand alone controller, but as a d-pad, it'll suck especially for fighting games. Pro-controller all the way...
It also looks like it uses carts, almost a similar style on the 3DS. That's cool, but that means there could be no backwards compatibility for Wii U titles. Although, I don't see any indication if the small monitor is a touch screen or not. You would have to insert the thing into the docking device so you can play the games on the big screen. I'm not sure if you could without docking it yet. So I guess we can't play Wii U games on it. Who knows...
It looks like there could be a new 3D Mario 64 style game coming for the system. Would be nice to have a new 3D exploration Mario game again. But I also hope that it will have a solid launch line up, with exclusive titles, both from first and third parties. From the video, it looks like Mario Kart 8 and Splatoon could be ported to the system. I don't know if they were just there as place holders to show what the Switch could do or if it means we would have to buy some of the same games again.
Wouldn't be surprised if Smash 4 gets ported to it. But that would suck...I would hate to buy those games again.