As much as I love Nintendo, and hope the Revolution proves to be something really special at E3 in a couple days, the Nintendo ON video is more than likely a
fake, made by someone with a whole lot of talent and free time.
One of Nintendo's VPs, Perrin Kaplan, recently stated that the Nintendo Revolution would be about 3 DVD cases in height, and could be kept in either a horizontal or vertical position like the PS2 and Xbox 360, which completely voids the helmet idea.

(I also thought the 3D Mario model in the video was very badly proportioned.)
I will admit the presentation of the video is highly professional though. The Mario 64 music and reproduction of Peach's Castle = flawless.
I
really want it to be real, but that kind of technology just isn't here (or a least affordable) yet.