How's the BC on it? I know it's BC, but I am just not sure if it's extensive. Reason I ask is because I want to get it for my brothers birthday (And well for myself) or just settle for a Wii instead and bide my time before getting it.

Also what's the general consensus? I never had a Nintendo console, but want to remedy that with my brother, so he becomes familiar with Mario, Zelda and most of the Nintendo franchises that I have missed during my childhood.

I have heard it's close to 100% backwards compatible with all games and accessories. Never heard of any games that are not compatible.

Edit: Yeah, wikipedia said "most Wii games are compatible", but when I checked the actual source it clearly said "all Wii discs".

AFAIK, it's 100% backward compatible. There's a Wii inside the WiiU, or something like that.
It simply boots into the Wii mode, similar to how the 3DS boot into DS mode for DS games.

it plays all Wii games and uses all accessories

Since the processor on Wii U is an improved version of Wii processor, it should support all wii software without any problems.

If you're buying Wii games to play on WiiU, here's a handy list of compatible games,

- All Wii games

GameCube games don't work unfortunately. Not too much of an issue though.

If you don't mind I'll use this thread to ask a doubt that I have: some games from the Virtual Console had a warning or disclaimer against using the components cable. Something about the colors or something like that.

If anyone tried one of those games on WiiU with the HDMI cable, could you please tell me if it works fine or there is some kind of problem?

Thanks.

Actually, there are very few games that don't work on Wii U. Those are ones that use accessories that plugged into the GameCube ports, like Dance Dance Revolution, I believe. Other than that, it works with everything. :)

Everything works with it I believe, aside from anything which involves the Gamecube (so any games, like Brawl, which support the GC controller won't have that option). Also, the Wii Shop is on the Wii U as well under Wii mode (I believe?) so there's all those games there as well.