First of all, this is in no proof of USB storage. It's a file system driver which powers SD cards (and likely the internal memory), and a (possibly independent) USB host driver.
Second, this driver apparently supports SDHD cards above 2GiB, which may be the only point addressed in an eventual firmware upgrade, if such an upgrade is all it takes. However, 32GiB SDHD cards have just started to become available, which I'd say is plenty enough for the Wii.
Finally, supporting off-the-shelf SD cards and/or USB pens/disks, for things like storing VC games is more of a philosophical issue than a technical one. Such games can already be backed up to SD cards (and from there to your computer). They are encripted however, to prevent piracy, and probably aren't encripted in the internal memory. It is unlikely that games will ever be stored unencripted in an external storage device, except maybe if it's a Nintendo proprietary solution... maybe. Running games directly from encripted external storage, can lead to much larger game-loading times, so I wouldn't put much faith in that.
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