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Click through to read official news from the Nintendo Press Conference as it breaks.

Here on the east coast of America, things just kicked off at 1AM in Japan. The conference is set to cover current Nintendo news, including the 3DS.

1:15AM - The Last Story to be released in Japan on January 27.

1:18AM - Wii Remote Plus officially confirmed, available in white, black, blue and fuchsia. Given the new Wii Remote Plus, Nintendo hints that the Wii will be around for a while longer.

1:20AM - Metal Gear Solid and Resident Evil 3DS both shown off with trailers.

1:24AM - Nintendo believes the 3DS will be a tough sell because people need to see it in person to fully understand it.

1:25AM - 3DS capable of auto-creating a Mii based on a picture of your face.

Final 3DS Hardware

1:29AM - The 3DS is capable of multitasking. Nintendo shows the system being paused, the Internet is used, closed, and the game is subsequently unpaused and played again. Tag mode also shown to pick up Miis passively.

1:32AM - Ridge Racer will take use of tag mode to exchange ghost data so players can race random players.

1:33AM - Upper right part of the 3DS features a light that will be activated when data is sent or received via Tag Mode.

1:37AM - You can also convert your Miis to a QR Code which can be sent out to SD Card in standard formats and placed on your home page, for instance, so that others can scan it with their 3DS to get your Mii.

1:37AM - Mii Studio announced. Will make the Mii experience simpler, and allow you to fine tune your Mii's features.

1:38AM - Hardware can merge two people into one, Iwata demos merging himself and Miyamoto.

1:39AM - Similar to all modern day systems, the Home button can be pressed to access system level functionality mid-game. Other menu options include "Memory Notebook," "Number of Steps" and play time.

1:41AM - 3DS will come with a 2GB SD Card packed in.

1:42AM - Portable Virtual Console announced featuring GB and GBA games. Some (maybe all?) games will be available in 3D as well.

1:43AM - 3DS will connect to WiFi while in sleep mode to download rankings, ghost data, software and more.

1:44AM - Portable Virtual Console may also include console titles, which may also be in 3D. Sakurai hints that Kirby's Adventure is playable in 3D on the system.

1:45AM - System only has WiFi, which it will auto-search for hotspots, but no 3G support.

1:46AM - The system will come with loaded 3D test games.

1:48AM - Video shown that includes more 3DS games: PilotWings Resort, Chocobo Racing, Paper Mario, Ridge Racer, Professor Layton, StarFox 64, Animal Crossing, and Ocarina of Time.

1:49AM - 3DS official Japanese release date: February 26, 2011. Coming to US and Europe in March 2011. Priced at 25,000 Yen which is roughly $300 USD. Launch colors include Aqua Blue and Cosmo Black.

1:51AM - Nintendo will be partnering with Fuji TV in Japan to distribute free 3D videos daily on an experimental basis.

1:55AM - Mario Land and Link's Awakening DX confirmed for release in the 3DS store. Gameboy, Gameboy Color, Gameboy Advance confirmed for certain for the portable Virtual Console.

1:58AM - Resident Evil The Mercenaries 3D announced for 3DS. This is the second Resident Evil title behind Revelations.

1:59AM - 3DS supports SD cards up to 32GB, unless Nintendo releases SDXC support.

2:00AM - Conference wraps up, Iwata thanks the attendees for their time.

After the conclusion, Mega Man Legends 3 was announced for the 3DS by Capcom on their unity blog and was quickly pulled.

In the demo area after the conference, Rhythm Heaven for Wii was found on the floor for play.