Through out what I've seen at E3, I'm really most excited for the Nintendo 3DS. Its not because I'm a fanboy or anything, I just love the fact that Nintendo is confident enough to release revolutionary technology to a wide demographic at what will be a reasonable price.
I really do not know how the PSP2 is going to trump this. Besides improved graphics and possible a touch screen, Sony better offer something that will help it compete.
I'm not feeling the sense of giddiness for Skyward Sword that I did for Twilight Princess, though, but that's probably for the best. I still have to wait at least another 7 months before its release.

I think the reason why is that the trailer didn't do it enough justice.