Before the Tokyo Game Show, Nintendo is holding a press conference. Previously, it was revealed that 3DS-related event was called the "Nintendo Conference". That's not the whole story.
The event is actually called "Nintendo 3DS Shinseihin Happyoukai" (ニンテンドー3DS 新製品発表会). "Shinseihin" (新製品) means "new product" or even "new product line", while "happyoukai" (発表会) is a more innocuous "presentation".
This means that Nintendo is revealing something. It is definitely a new product, but is that new product a game, a hardware revision, or some sort of add-on?
Japanese forum 2ch is buzzing, but leaning more towards either a hardware revision (maybe a 3DS XL or a 3DS Lite?) or the rumored second thumbstick. Or maybe it's a 3D-free 3DS?
If the new product is just another line of games with Nintendo characters, that will be a letdown. Squaring off with a new iPhone and the PS Vita, Nintendo needs to surprise us. Big time.