This is absolutely the most retarded thing I've ever heard. This is ten times worse than renaming the "PowerBook" the "MacBook Pro," no... make that a hundred.
Who wants to sit in front of their TV holding a stick controller about six inches long, playing with their Wii?
What the FUCK Nintendo? I'm not sure I can buy one with that name, it's so bad.
EDIT:
Ars thread (just to pull in some other peoples' thoughts on this).