There is a fascinating (and, at times, fanboy-ish) interview with Shiguru Miyamoto over at GameBrinke
In it, he admits that, despite the superior power of the Wii when it comes to paper specifications, it is basically a GameCube on steriods with a fancy remote.
"Looking at the titles that have been announced so far, the pace at which games are being released is comparable to the N64 and GC.
The hardware is basically a GC. We’ve upgraded our development tools to new versions but, you can still use GC programs as they are. With that in mind, I thought we could remake GC titles for the Wii and modify them to work with the Wii remote so that they’re more fun to play."
He also adds that:
"Recently, we finally reached the conclusion that the Wii isn’t a console seeking for the next generation graphics."
Blimey. Interesting postitioning - let us know your thoughts over in the forums.