Official Nintendo Magazine says:
Nintendo is working on a new Nintendo-Europe website that promises to offer Club Nintendo members a number of new features for an expanded experience.

The site has been going for 5 years and has had many great features like updated game release dates and the Star Catalogue which, usually filled with wallpapers and screensavers, occasionally put up fantastic products like DS games. The site will be missed in some ways but the forum was pretty rubbish so good riddance to that.

I can't wait for the new site, that is, as long as Nintendo live up to their promise. I hope they vastly improve the forum by making it more fun and make sure it's moderated!