In my possession is Nights: JOD.
There are three control schemes - the wiimote alone, the wiimote + nunchuk and the GCN/Virtual Console controller. I tried all three, and the wiimote + nunchuk controls seem the best, and the wiimote alone is the worst. For the wiimote and nunchuk you don't use the wiimotes' capabilities at all, but I guess for me it's more comfortable to hold the two shoulder width apart. Who knows. The wiimote alone is like using a magic wand - you use a reticle and hold the A button to direct Nights. Tracking is slow, but doing paraloops is a pretty neat endeavor.
The game is very much faithful to the original nights game, down to the sound effects and musical score. The game itself is gorgeous, moves at a steady clip. There was slowdown when there was a lot going on on the screen. In game, everything is sharp and beautiful.
The cutscenes are a little jagged but they're done well. The cutscenes explain the Nights world very well. There's a disconnect though - it definitely does not have the feel of a sequel. Not that that is a big deal, as the original is what, 10 years old?
So far, the game doesn't abuse the franchise like TJ&E III and Shinobi (PS2) did - it's a great start. Presentation is excellent. Even though you're flying on rails, it seems a lot more 'grand' - there's a lot more to explore. The story is explained very well and acquits itself well if Sega decides to produce another sequel in the near future.
I don't think the game would've been improved at all on any other console, honestly. The Wii may very well be the spiritual successor of the dreamcast for quirky, offbeat games. Nights really feels at home on the Wii.
Personally, this game and Sonic&tSR are great steps in the right direction for Sega. If every franchise gets this kind of treatment, we'll finally have something to talk about.
edit: forgot to mention that the game is wifi enabled. I don't know how it works yet... if anyone else gets Nights, let me know.
edit #2: Seganerds reviewed Nights, and panned it.
http://www.seganerds.com/2007/12/22/nights-journey-of-dreams-review/
I think my expectations were a lot lower than theirs, I don't know.