This is the likely content. That plus "Please Understand"
I think if there was going to be "please understands" (like Mario Kart being delayed), they'd wait until the holiday buying period.
I expect some DK:TF footage, Mario Kart (announced for April), and Wii Sports Golf which can be downloaded as soon as the Direct ends. Maybe lessons for Art Academy will finally pop up, as well as some talk about Miiverse on 3DS. On the 3DS side I haven't been keeping up as well, I know they've got Kirby to show off but what else?
If this only goes through Spring, we may not even get new announcements (though technically Nintendo could do whatever they want and still show stuff a ways off). Maybe they'll do some indie game plugs too, since I'm pretty sure a lot are due Q1 and Q2.
Of course, I'd love to see Wii U F-Zero, Metroid, or Star Fox, or a mature (non-mascot) action/adventure ala Naughty Dog from Retro. And a complete VC reboot with cross play for NES/SNES/GBA along with a bunch of Sega support being added would make my day. Or deal with 2K Sports to get some sports content on the U, a middle finger of sorts to EA.