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Firstly have a decent number of launch titles, that feature games that people will be familiar with (eg a Mario game) as well as something original to show what the console can do. Let magazines preview these way in advance, but only let them have really impressive screenshots.
In the weeks leading up to the release date advertise on television, maybe using some kind of countdown. Have screenshots in the ad, but only teasers (and not FMV).
On the release day hold events in all major cities in the country, in shopping centres. Have a competition to win one of the consoles, let people play the games. Have demo screens showing future releases. Have special offers for buying from the event. Give money off coupons.
Make sure that you have plenty of consoles.
Leak rumours of a shortage.
I think that the special events would bring people in to see the console for the first time. If you could put on a bit of a show, people will walk away seriously impressed and buy your machine.
I want to see the Gamecube launched like this, but I doubt we'll get anything fresh from Nintendo's marketing people.
How would you launch a new console, if it were up to you?
Incidentally, have you noticed how much airtime Sony got from all those documentaries and Bits specials?
"Imagine what you could do with an Im:engine" would be the slogan.