Via Joystiq:
Nintendo today announced the new name of their next-generation console, previously codenamed “Revolution.” The new name is “Wii,” pronounced like the word “wee. “We’ve copied Nintendo’s hype-filled prose explaining the name-change below, in italics:
One thing comes to mind: WTF.
Read intervies about the name change:
http://www.gameinformer.com/News/Story/200604/N06.0427.1154.38678.htm
http://revolution.ign.com/articles/703/703593p1.html