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And Mega Drive / Genesis as well.
Can somebody please list all the different systems I can play on a Wii. And please explain: Can I plug my old cartridges in, or do I need to download ROMs or what?
Wii will also connect to a special Nintendo online service known as the Virtual Console. For a cost between $4.50 and $8.99 per title (article specifically quotes Japanese prices of 500-1000 yen) you will be able to download NES, SNES, N64, Genesis and Turbografx 16 games.
Nintendo negotiated straight with the the TG16 manufacturer, so they have the rights to every game.
Getting all the Genesis titles is more difficult because they can't negotiate with only Sega, they'd have to talk all the developers.
I haven't seen any information about how the games are stored or anything like that. It may be that the games sit on the Wii's flash memory, or it could be that once you pay, you have the ability to download the game whenever you need to.
No definitive titles have been announced, but at E3, Super Mario Bros., Mario 64 and Sonic the Hedgehog were previewed.