Our handheld platforms are getting more powerful, they can offer experiences that comparable to if not the current generation then the last generation of console games. Do you want a console in your pocket? Do you want it to be a different kind of experience from what the console an offer? Is there a point now given the mobile market?
I don't necessarily want a handheld game to give me the same experience as a console game... To me, it should be more compact. Ease-of-access for on-the-go gaming, maybe by shorter levels/missions/etc. or by being able to save at any time. Also, while I don't expect a game to be console-quality, it should at least look decent with the technology available nowadays.
I want a game that I can pick up and play without feeling like I need to invest hours and hours into in a sitting. Something I can grab, play for 30 minutes, then save and do something else. I think the DS does a pretty good job of this, as I can just play a little Pokemon or Ace Attorney before bed, and put it down fast without extremely long and drawn out missions.