This year has been spectacular for the eshop, so I wanted to give out awards. Vote now in
Best Visuals
Best Sound
Best 3d
Best overall presentation
Best Gameplay
Best Longevity
Best overall game
And also worst for these all. So for my 2 cents:
Best Visuals: Liberation Maiden
Best Sound: VVVVVV
Best 3d: Speedthru
Best overall presentation: Liberation Maiden
Best Gameplay: Crashmo
Best Longevity: Denpa Men
Best Overall: Crashmo
Worst Visuals: Mad Dog McRee
Worst Sound: Mad Dog McRee
Worst 3d: Mad Dog McRee
Worst Overall presentation: Mad Dog McRee
Worst Gameplay: Samurai G
Worst Replay Value: Mad Dog McRee
Overall Worst Gae: MAd Dog McRee
Now vote (not competition btw)
Game has to be released by next week.

Best Visuals: Liberation Maiden
Best Sound: Cave Story
Best 3D: Mutant Mudds
Best Overall Presentation: Liberation Maiden
Best Gameplay: Cave Story
Best Longevity: The Denpa Men: They Came by Wave
Best Overall: The Denpa Men: They Came by Wave

Worst Visuals: Outdoors Unleashed: Africa 3D
Worst Sound: Outdoors Unleashed: Africa 3D
Worst 3D: Family Tennis 3D
Worst Overall Presentation: Outdoors Unleashed: Africa 3D
Worst Gameplay: Mutant Mudds
Worst Longevity: NightSky
Worst Overall: Outdoors Unleashed: Africa 3D

A couple things to take note of
1). I'll only nominate games I actually have.

2). Don't read too much into my "worst of" list. I only buy games I know I'm going to enjoy, so even the "worst" of the games I mentioned (Outdoors Unleashed) gets a solid 7/10 from me, and I love Family Tennis 3D, Mutant Mudds, & NightSky, they just slightly let me down in those particular areas.

3). I'd like to give out a few extra honors:

Best Overlooked Gem: Family Tennis 3D
Best Fresh Idea: NightSky
Best New Character: Shoko (Liberation Maiden)
Best Story: Cave Story

Are we accepting VC and Dsiware? Because imo there haven't been thaaaat many releases in the 3dsware category to warrant an award show. Anyway-

Best Visuals: Hana Samurai: Art of the Sword (not sure if this was released for NA in 2011, it was certainly 2012 for PAL)
Best Sound: Liberation Maiden (and all those catchy boss themes)
Best 3d: Mutant Mudds
Best overall presentation: Fallblox
Best Gameplay: Speedthru: Potzol's Puzzle (I guess you probably know it as Ketzal's Corridors)
Best Longevity: Dillon's Rolling Western
Best overall game: Speedthru: Potzol's Puzzle

Worst Visuals: SpeedX 3D
Worst Sound: Picross E (not that it was bad, except a single music track for ~10 hours game time is pretty meh)
Worst 3D: Bird Mania 3D
Worst Overall Presentation: Planet Crashers
Worst Gameplay: Planet Crashers
Worst Longevity: Fun! Fun! Minigolf TOUCH!
Worst Overall: SpeedX 3D

Took me a while to even remember which games came out this year...
(Also worth noting that this is a PAL list, and only consisting of games that I've downloaded)

Best Visuals: Liberation Maiden
Best Sound: VVVVVV
Best 3D: N/A - I usually play with 3D turned off so can't really judge
Best overall presentation: Fallblox
Best Gameplay: Fallblox
Best Longevity: Marvel Pinball 3D
Best overall game: Fallblox

Worst Visuals: SpeedX 3D
Worst Sound: Too tough to remember one specific game
Worst 3D: N/A
Worst overall presentation: Planet Crashers
Worst Gameplay: Planet Crashers
Worst Longevity: Fun! Fun! Minigolf TOUCH (or maybe Samurai Sword Destiny)
Worst overall game: Fun! Fun! Minigolf TOUCH (Planet Crashers was pretty crap and ridiculously overpriced, but nothing can compete with Fun! Fun!)

Still waiting on Denpa Men which I imagine will be right up there with the best ones, and Mighty Switch Force! only missed out on best overall by being ten days early.

Now im adding Most Underrated Game and Least Underrated Game, Most Original And Least.
Most Underrated: Liberation Maiden
Least Underrated: Crashmo
Most Original: VVVVVV
Least Original: Crazy Kangaroo.

@Rainbow Crasher, shouldn't "Least Underrated" be reworded as "Most Overrated", as that's the opposite of "Most Underrated"? Anywho, I'll add those to my list.

Most Overrated: Mutant Mudds
Least Original: Outdoors Unleashed: Africa 3D

Best Visuals: Dillon's Rolling Western
Best Sound: Cave Story
Best 3D: Mutant Mudds
Best Overall Presentation: Art of Balance: Touch
Best Gameplay: Mutant Mudds
Best Longevity: Dillon's Rolling Western
Best Overall: Art of Balance: Touch (toss up with that and MSF, other then the year)

Worst Visuals: Outdoors Unleashed: Africa 3D
Worst Sound: Mad Dog McCree
Worst 3D: Order Up!
Worst Overall Presentation: Mutant Mudds
Worst Gameplay: SpeedX 3D
Worst Longevity: Order Up (two categories yet I loved the game even for $10)
Worst Overall: Mad Dog McCree

Overrated (or least underrated): Pushmo
Underrated: Order Up
Most Original: Dillon's Rolling Western
Least Original: Cave Story (lolports)

Also extra honors

Best script: Order Up
Best story: Cave Story
Worst value: VVVVVV ($3 extra for no level editor, no downloadable levels and cheap 3D)