http://wii.ign.com/articles/823/823506p2.html

"Also included to help make the "cursor off" mode a bit more forgiving is a Wii-mote IR calibration mode, where you're asked to shoot the bottom right corner of the screen, then the top, and then the middle, essentially tuning your IR for more accurate shooting." 

Will this bring us one step closer to accurate light gun emulation with the Wii?

It could work well with a quality peripheral like this:

Notice how the gun has sights at the front and back?  That's what makes the difference between this and the Nintendo Zapper.  You could theoretically get pinpoint accuracy out of this (if the calibration software is accurate).  I've been preaching the benefits of on-screen calibration since the announcement of the Wii remote.  This could make not only on-rails light gun games better, but also straight-up FPS's.

yes! This is an important feature and I am incredibly pissed off that more games don't have any sort of on screen calibration. I don't get why it's not done, it's not like it's difficult, or really some amazing idea that no one has thought of till now. Please let this be the beginning of a trend

that peripheral is only good for games that don't use the A,1,2,+ and - button.

@SleepWaking
Yeah, it's ideal for on-rails light gun games. However, with the C and Z button on the nunchuck, a simple FPS could work with it. Strafe and move forward with the analog stick; rotate with IR; jump and duck with the C and Z; flick nunchuck up for reload; flick nunchuck left or right to change weapon on the fly.

I don't know. Maybe...