Here's the real plan that Nintendo has for mobile:
First off, forget re-releases of old games on cell phones. They won't be doing a Virtual Console, selling old emulated versions of their games, and if any classic games appear they'll be "Remastered" versions specially designed for the device. There may be a marketplace that will (finally!) be tied in to your Nintendo account, and probably transfer in some way to your 3DS and other marketplaces, but it'll sell new titles featuring familiar characters and settings.
They see and understand the market they're entering, and will be making games specifically for it, like "Freemium" Dr. Marios with 5-plays per day energy metering with the option to buy tokens to get more plays. If you've played Pokemon Shuffle or Puzzle and Dragons, you get the idea.
Their new "Console" will probably lean more in this direction, tying their existing IP into the mobile game experience in some way. Remember the Chao idea from the Sonic Adventure games? You'll probably see more Tamogachi style mobile gaming featuring Pokemon and other Nintendo fauna and flora, with options to "feed" them with real-life cash.
Eventually it'll either flop and Iwata will say "I told you so!" or it'll be so successful that investors will want to know why they're even bothering with a console at all. Why spend three years making a new Legend of Zelda when they can push out a new "Link's Candy Crush" every six months.
Moral of the story - be careful what you wish for. Getting the Nintendo experience in your pocket might just be at the cost of having a Nintendo console in your living room.