I can only care so much about what they claim to be making, I care about what's actually coming out.
I heard Sony was making Gran Turismo for the PSP... and a sequel to Duke Nukem 3D is in development!
I'm not saying Pikmin, Zelda, etc. are vapor, but until they have some kind of real presence and a release window, I can't bring myself to care anymore.
To an extent this depends on the developer of course, if I heard Insomniac was making something for instance, we'd know it was coming out in a reasonable amount of time... but with Nintendo it could just be another Marionette or even Star Fox 2.
Wii Music is actually coming out, and that's the state of Nintendo at the present in my view
