Based on the attention and web news frency, last weeks top news was clearly the announcement of the Nintendo Gameboy DS portable Game Console.

Not much is known so far, but from what we can imply it would be surprising if it would be competing with the pre-announced Sony PSP. The Sony PSP is attractive to a new group of demographic that the Nintendo Gameboy is not reaching - 20 to 35 year olds. To be attractive to that target group the portable game console needs to be small, cool clean design, high performance and of course good games.
The Two screens of the Nintendo implies a bulky device, unless they have a very smart design. In an interview at GameInformer with the Nintendo USA Director of PR it says that the screens are vertically arranged.
So lets see if things change, when more information trickles in. Right now I am actually not that excited about the Nintendo DS. I have my bets on the Sony PSP.

Current Information available about the Nintendo DS:
Release: late 2004
Price: current rumors say: 20,000yen ~ $190
CPU: ARM9 (main processor), ARM7 (subprocessor)
Screens: 2 3" TFT color LCD monitors with backlit
Media: semiconductor memory of up to 1 gigabit

See Also:
New Nintendo DS (Dual-Screen) Portable Game Device Announced
Sony PSP is coming November 2004
Sony Playstation 3 Rumors and Fake Photos
New XBox 2 Details