The new was revealed by Satoru Iwata himself during a presentation today where he explained some of the console’s features.
Translated by a user on NeoGAF, each account will have it’s own save data, play history and web browser bookmarks. Adding to that purchases made on one console will be accessible to all registered users on the system.
This is terrific news coming from Nintendo. It was widely assumed that Nintendo would go with a single or perhaps a couple more registered user policy. 12 is a lot!
A bunch of friends or a whole family can take advantage of a single console and still maintain their own personal space.