I'm a little underwhelmed by the name but, I'm already over it. It's not like when the Wii was announced and I thought the name was terribly stupid. And don't get me started on the Wii U. On the other hand, the NS does have a nice ring to it. And that's how I'll be calling it from now on.
At first I despised it. Then I was okay with it - which is my current position on the matter. I adore the logo (especially after GameXplain likened it to the Yin & Yang symbol) and the clicky sound it made in the trailer. I think Nintendo learned their lesson with Wii U and went with something that everyone could understand. I totally get the logic behind it.
I think it's fine. I still was hoping for simply "Nintendo Entertainment System" or "Nintendo", and even "NX" rolls off the tongue pretty easy.
But it's a clean break from DS and Wii, isn't confusing, still emphasizes the Nintendo brand name. The name makes it obvious that it's a brand new device, and it conveys what its design and purpose is. It's a good name.
My comment wasn't sarcastic. I legit think it's the best one since the Advance. Maybe using the word console threw everyone off, but you know what I mean. Best major product name from Nintendo for quite a while and probably the best name for a Nintendo home console since the Super Nintendo.