It's like the Ouya in that it's a failed concept right from the idea stage. At least the community didn't pay for it's development, that's a good thing.
Well it IS a toy for snk fanboys... that's the point. No "regular" person would be excited about it. I even have my doubts that fanboys would want it, because if you are a neogeo fan you already have these games in one form or another, the built in selection is crap, and they haven't announced a system to buy more old titles for the thing, much less new games. I wouldn't be getting excited about a plug-n-play tv game if they charged 200 bucks for it.

I can't remember the last time I've been grouchy on this forum... you must be thinking of the other guy.
To answer your question, I wouldn't like to see a new console or handheld.... Nintendo, Microsoft and Sony have that market pretty much cornered. Any new device offered by another company would have to be significantly better in some respect than what those three are offering to get third party developer support if nothing else. These tiny little companies simply don't have the resources to complete.
The reason I'm so hard on this on in particular one after the price has been announced?
http://en.wikipedia.org/wiki/GP2XThis is essentially the same unit, only it emulates pretty much all home consoles. When it was new you paid 199, the price of the NGX. Now you can get em for next to nothing. Why? It's an "open source linux based console geared towards indie developers" and thus demand is incredibly low for the device. It sounds familar doesn't it. Also it was released in 2005. One of it's sequels was released in 2010, it blows those specs away, still only 150 bucks. The company is now out of the hardware business.
So I'm not being negative or grouchy, I'm just being realistic. If you could go back in time and save the few poor saps out there from buying the virtual boy or the n-gauge wouldn't you?