Looks like a few more details on this have come to light and this has gotten a little more interesting. It is going to have an SD card slot but currently its only function is to import/export save states. Game list is now 100 titles; Irem and Jaleco are now on board. Interesting thing is that some SNES titles from them have been mentioned (Super R-Type, Super Bases Loaded series, Brawl Brothers). Price point still listed at $59.99 USD.

Looks to be an interesting addition to go along with the Classic NES plug & play system. If only Sega wasn't hampered with dogshit AT Games licensing agreement and could participate in this system...