DISCLAIMER #1: Before replying, please take note that I'm NOT saying that the Wii-U "itself" Overscans. Overscan is a issue that has plagued TV's since the beginning, and continues to do so in 2012. The Wii-U is simply not designed with Overscan in mind, unlike other consoles (PS3, 360, Wii). Therefore Overscan is a issue --> FOR <-- the Wii-U, unless your TV does not overscan.
DISCLAIMER #2: MOST 1080p (not 720p) HDTV's have the ability to eliminate overscan, but not all. (its usually difficult to find this adjustment, and usually is continued within the advanced picture options. AND, even if you do have this option, it generally only works on HD input sources. So if your input is 480p or 480i, your forced to deal with overscan.) UNFORTUNATELY HOWEVER.......MOST 720p HDTV's ...DO NOT have the ability to eliminate overscan (only a few 720p TV's have this ability). Also, here's something to consider. When a HDTV uses overscan, it essentially "Zoom's" the picture by a fixed percentage. In other words, if your HDTV has 5% overscan, then it is zooming the received picture by 5%, and since most HDTV's owners have a 720p HDTV, then they are usually out of luck and will have no options to turn off overscan.
NOW, on with the post..........
Most people have witnessed that the Wii-U places important things, like text, symbols, etc at the very edge of the screen of people's TV's. And, seeing as how all HDTV's (and especially SDTV) have what is commonly referred to as "Overscan", the Wii-U is essentially hurting the gaming experience by not staying within the "Safe Zone", and thus cropping off the essential text/symbols/etc. This 'Safe Zone', which stays about 5-8% away from the edges of the picture, is generally respected by 99% of all TV stations, movies, and game's (games pre-dating Wii-U) so that your TV's don't crop off anything important. For example, you watch the News? Well, if that News station doesn't allow for Overscan, then your going to not be able to read a significant amount of text due to it being cropped off on the top, bottom, left and right edges. (read the info on this link for more on the subject - http://www.engadget.com/2010/05/27/hd-101-overscan-and-why-all-tvs-do-it/ - )
So basically the deal is that Nintendo apparently forgot the golden "Allow For Overscan/Stay Within' The Borders" rule. Even Microsoft - who hasn't been in the gaming world nearly as long as Nintendo - allows for Overscan. For example, Microsoft's Xbox game developer guidelines recommend using 85 percent of the screen width and height, or a title safe area of 7.5% per side. (Source - http://en.wikipedia.org/wiki/Overscan - )
Now Nintendo played it safe with the Wii much like they did with the GC, N64, SNES, NES, etc, but not the Wii-U? Now I know that "some" HDTV's have the option for correcting Overscan. But unfortunately, most do not have this luxury. Even the newest HDTV's don't "always" have this option. My 2009 Panasonic L32X1 HDTV doesn't have this option EVEN WITHIN the Service Mode that requires a special code to get into.
So why does it seem that Nintendo does not realize that MOST people's TV's do NOT have an option for correcting Overscan? (Its obvious, Nintendo only developed this system on a PC Monitor and thus, forget about the "Stay Within the Borders" rule)
So Nintendo, you think this is only a few people who are having this problem? Think again. Already within the first few days of launch, the Wii-U has received this complaint numerous times. Proof? Well, the easy way would be to type in google "WiiU Overscan", and you will be shocked as to how much it shows up. But, I've done the leg work for you, so here's the links
http://www.gamefaqs.com/boards/631516-wii-u/64675319
http://www.ign.com/boards/threads/over-scan-issue.452758776/
http://www.gamefaqs.com/boards/631516-wii-u/64682459
http://techforums.nintendo.com/message/78489
http://www.avsforum.com/t/1440077/overscanning-issue
http://techforums.nintendo.com/message/78804
SO Nintendo, here's - not just mine - but OUR request. Please give us a firmware update that allows for us Wii-U lovers to adjust the Wii-U's image to fit our screens under system settings. You've already included this option in the eShop and the Internet Browser, but not the actual system itself? If Blu Ray players, Receivers, and Streaming Media Players can do this, then so can the Wii-U (as evidenced by the apps that use this feature).
Please Nintendo, don't force us to return the Wii-U. We love it and want to enjoy THE WHOLE PICTURE. Will you do this? Thank you.