-VC games can be stored on SD cards, but you can't copy them to a friend's Wii
-If you lose all of your VC games by accident (system crash, act of god, etc.), Nintendo will help you recover them
-The GameCube controller can be used to play all VC games
-VC games are basically region-locked
-You can store up to 10,000 Wii points on your console at any given time.
Pretty good news. I'm especially happy that I can use my GCN pad to play any of the VC titles. In my opinion the Cube pad was Nintendo's most comfortable, and we've seen through bonus ports (NES Metroid, Zelda Ocarina etc.) that it can play just about anything in Nintendo's back library. The VC controller looks very slick and it was pretty comfortable at E3, but I'm not sure how I'd play some of the more complex N64 games with it, considering the odd Z-trigger placement.