Apparently a source close to IGN has leaked the specs of the Nintendo 3DS handheld. While one can take a lot of rumors with a grain of salt, the fairly low specs seem very plausible and the hardware seems in line with what one would expect as the follow up to the DS.
266MHz ARM11 CPUs
4MBs dedicated VRAM
64MBs of RAM
1.5GBs of flash storage.
As expected, once again we see two ARM CPU's, although newer editions with a higher clock speed. It was rumored Nintendo would use the superior Nvidia Tegra chipset, but that was confirmed false even before E3. Apart from that, the other specs also seem fairly inline with the slightly better graphics than the PSP, if the Kid Icarus game shows us any indication.