> Wii U Processor is based on Power7. [...] It is described by IBM
> as an all-new, Power-based microprocessor and shares some
> characteristics with IBM's POWER7 processor.

To my mind, the second sentence reads like some kind of relativization of the former. So let's see what "based on" really means in technical detail and if what it shares with POWER7 are significantly more characteristics than just a large eDRAM cache.
On the other hand, there's an interesting tweet by IBM from June 2011 which seems to confirm that the Wii U actually uses the very same POWER7 *chip* (not just the same core) as IBM's Watson computer, which would mean an eight-core POWER7 chip. I find that very hard to believe.