Nintendo is a great company by any means. They're often seen as the inventors of the wheel in terms of video-games, and are responsible for the development and publishing of some of gaming's biggest icons. Disregarding the Nintendo DS' near complete domination of the handheld market, the current generation hasn't treated Nintendo so well. The Wii was a huge success at first, but has dwindled in sales in the last year. Nintendo still pumps out the occasional successful first-party game, but I feel other developers and companies could do much better jobs if given the opportunity to do so on other consoles.
While the original, now-retro versions of F-Zero are still fun for nostalgic purposes, F-Zero GX (GameCube) is my favorite arcade racer of all time. Thirty unique pilots racing at ridiculous fast speeds whilst simultaneously battling each other for survival is something to marvel at. Throw in one of the best video-game soundtracks ever created and you get a near perfect game. So where's the Wii version? F-Zero is popular not only for solid gameplay, but impressive visuals and specs as well. Logically, a console with better hardware would be better suited for such a franchise. Both the PS3 and 360 could handle a beautiful F-Zero with online multiplayer; something the Wii couldn't handle.
Fire Emblem is one of those great Nintendo franchises that simply doesn't get enough attention. The 2D versions back on the GBA were probably the best versions the USA have gotten, with the 3D console counterparts having significantly less quality. I feel this series would do much better on the PSP, in terms of quality and sales. The PSP is a great hub for niche titles and RPGs, as proven by the plethora of Final Fantasy games and Aksys & Atlus releases.
Who doesn't love Pokémon? It's a great series in the sense that it's terribly addicting, has done nothing overwhelmingly innovative in a decade and has been milked more than any Activision franchise. I really have nothing against the game itself, but every year I keep expecting a console version with the same features as the handheld games. The Pokémon Stadium games were great, but always so limited. Even the Wii could handle a true Pokémon game with moderate online capabilities for battling and trading. In this case allowing Sony or Microsoft to publish a Pokémon title would be ideal, but a more ambitious development team could serve the same purpose in a more realistic fashion.
The Legend of Zelda
This is a bit of an obvious choice. Think about it, who wouldn't love a 3D Zelda with smoother graphics and potential DLC expansions? I'm not saying Twilight Princess was an ugly game, but it's unarguably a port from last generation. In my eyes it's somewhat depressing that Link, one of gaming's most beloved characters can't even receive a proper HD treatment. Of course, Zelda “isn't about the graphics,” so why is it taking Nintendo so long to create a new actual Zelda game?
Technically, Team Ninja tried their hand at recreating the Metroid series, ending in some mixed opinions. But most important is Retro Studios' original re-imagining, the fantastic Metroid Prime series. At the time Prime featured some top notch graphics, but the third title Corruption did very little to impress. Give Metroid Prime a remake on 360/PS3 and you could expect a beautiful game with lush visuals and creepy environments (Irrational Games anyone?). Not to mention a multiplayer mode that improves on what Metroid Prime: Hunters attempted.
Obviously I don't expect any of these scenarios to actually happen. The idea of Nintendo relinquishing rights to any one of these blockbusters would be idiotic albeit a blessing. Likewise, while I do consider the Wii to be an outdated console, I don't believe Nintendo to be out of the game quite yet. But for Nintendo to survive next-gen they're going to need a modern console that can support things like high definition graphics and online gaming with ease.