The 3DS is amazing. 3D without glasses and the size of a DSi in your hand. the 3DS already packs in AR games, a Face Raider game, the Mii stuff, and the menu is fantastic. The camera and Battery life are kind of a issue, but battery life is solved with a battery replacement from Nyko and camera is enough quality if you use it in sunlight.
Hardware update is coming in May and will give a Online shop, Netflix service (That's right. Netflix in your own hands with any movies you can watch.), Video camera (not sure if coming in May, but it's coming). A lot of good games, including Zelda, will be coming in June. 