-Battery life is 2.5-6 hours depending on the game. This is comparable to the 3DS line: http://kotaku.com/how-does-the-new-3ds-compare-to-the-older-.... We will have to see how well it does in practice though.
-Storage: The Wii U only had a basic 8GB which is enough for most use cases except downloading games. The switch can extend with SD cards too. As games will be shipped on cards like the DS I doubt this will be an issue for the average user.
-Online: I would consider the playing with others side of this more important than the free game. Though it is a shame that the games are only for the month. This is a fairly new thing for Nintendo so I hope it improves.
-Launch: it might have a few but I expect the fact that one of them is Zelda will help it a lot.
Personally I'm excited for it and it is perfect for my kind of gaming: mostly on the go. I'm rarely at home long enough to make the investment into systems that I can't take with me. Of course, YMMV.
[1] I'm not making a judgement call on specs here, just pointing out that, of course, an older console is cheaper.
[2] The accessories though, are not cheap.