I have seen footage of ME3 and Blops2 on the the Pad, if what you say is true then I may cancel my pre order
It's not. There are two issues. Firstly, a game that uses touchscreen and telly to show different things (Zombie U, Wonderful 101) won't support gamepad-only gaming as you would lack vital controls. Secondly, Nintendo have stated that running a game on the touch screen will diminish framerate by half. In other words, it would only be usable for games that run in 60fps to begin with.
Now I was under the impression all games could be played off TV on the gamepad, is this not the case?
Obviously A LOT of games won't be running in 60fps. I would imagine most 2D games (Rayman, Trine 2, Mario) would be fitting candidates but the majority of 3D games will be 30fps and therefore not suitable for gamepad-only gaming as 15fps is unplayable.