Is it just me, or does anybody find that what made Nintendo's previous E3 presentations more tolerable is the fact that the big wigs are very personable and entertaining to watch? Both Iwata and Reggie have distinct personalities and add a distinct touch of awesome whenever Nintendo announces something big. I couldn't tell you who the hell presents at Microsoft's conferences every year, and I don't even know who Sony has anymore besides Kaz Hirai. It says a lot that I know more of Nintendo's structure than the other companies. They have to be doing something right.
With that being said however, I will agree that Iwata is very conservative and traditional when it comes to Nintendo's image, and that ultimately has come back and bit the company on the ass a bit. Because the Wii chose to stick with the whole "family-friendly" gimmick, the WiiU simply isn't selling. It isn't targeting soccer moms who want a family console because the WiiU is now more "hardcore", but then again, it isn't targeting "hardcore" gamers either because the Playstation or Xbox clearly established last gen that it was their label. Yes, a Mario or Zelda game is perfectly fine, but there needs to be more interest in terms of other games. I'm not just talking about making the games. It's all about advertising them to the masses, localizing the ones that fans actually want, and doing some sort of deals that include such games. A few new IPs wouldn't hurt either.
Of course, this isn't all Iwata's doing. People seem to forget that the Board consists more than just a president.