No wireless is not reliable there are still too many issues with data loss, connectivity loss, and issues with environmental interference. I know a number of wireless users that still have issues. The technology is most assuredly not full proof yet. Until you have heard someone online go totally filthy, because of intermittent connection, lag, or someone turning on that damned microwave oven you haven't lived. I know people that have had top of the line setups dump them and go back to good old cord. I am talking four hundred and five hundred dollar setups on top of high speed lines. So pardon me if your sarcastic response doesn't sell me on reliability. I listened to someone take a knife to a power cable the other night.
You do not like Microsoft's device that is cool I agree it is overpriced. However there are third party alternatives. Here is an example of one such device for less then half the price. On par with what a dongle for the Wii will run you.
http://www.amazon.com/Linksys-Wireless-B-Game-Adapter-WGA11B/dp/B0002M4HXC/ref=tag_dpp_lp_edpp_ttl_in
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