I think you actually may be underestimating Nintendo. I\'m not expecting them to have a huge blow out, but I think they can do better than 5 games.
Nintendo of Japan alone is rumored to be working on 5 - 7 games And I guess I should do a brief explanation of NOJ (really NCL, but people call it NOJ) for those that don\'t follow the company. NCL\'s development groups are made mainly of:
EAD - the most important group, since it\'s the largest (a few hundred people) and is headed by Miyamoto. They create the Zelda and REAL Mario games (not Mario Party and some of the other side games) among others. Basically they\'re the only group in the world that could hold back the GC launch if they need more time (just like with the N64), since Nintendo always launches with EAD titles (sometimes more, but never less).
HAL - creates most of the console Pokemon games, Kirby, Earthbound (which was cancelled after 5 years of development on the N64, so it will probably show up on the GC) , and Smash Brothers. The fact that Smash Brother 2 wasn\'t announced for N64 (after selling HUGE numbers) suggests a GC version in the works.
Intelligent Systems - hasn\'t produced many console games since the SNES (Paper Mario is their only N64 game), they\'re mostly busy with GBA development.
Anyway, on top of those, Nintendo has lots of other groups.
NST - Nintendo of America\'s group is supposedly working on 2 games (Wave Race and an unknown)
Retro - said to have 5 in the works (Metroid, an RPG with online elements, an action game, and a couple of sports games)
Silicon Knights - Too Human , which was redirected from the PSX after Nintendo bought into the company, and possibly Eternal Darkness. The game was scheduled to be released last October on N64, but now Nintendo says it doesn\'t have a confirmed platform (strange to say the least, since IGN said the game was near complete in the summer, now it suddenly vanished)
Rare - I don\'t expect much from them, but Dino Planet is in the same boat as Eternal Darkness (scheduled for the N64 last year, now it disappeared) and IGN says Perfect Dark 2 is in the works from them.
Left Field - Most likely working on sports games (they made the Kobe Bryant games on N64), though they\'ve been pretty quiet (accept for saying Excitebike 64 was their last N64 game, and they will have something for GC at E3).
Factor 5 - working on a Star Wars game and a shooter called Thornado.
Ther there are also other groups in Japan (NDCube, Mobile 21, Marigul, Brownie Brown, Manegi), but I haven\'t hear anything about what they might be working on.
I haven\'t even gotten to the 3rd parties. I don\'t know how many Nintendo has signed up, but at least a couple said they are working on GC games (at least RE:0 from Capcom).
Will we see all of the games in the works at E3? Probably not. But the point is that Nitendo probably has more going on than you give them credit for. Again, expecting them to outnumber Sony would probably be an overestimate, but expecting just 5 seems like an underestimate.