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Yeah its no big deal. Just call Nintendo and they'll send you a shipping label. Package just the Wii in a good box w/ stuffing and mail it off. In less than a week you will have your new wii with all of your memory copied. You will probably have to redownload some channels, vc and wii ware titles but that doesn't really take much time.

The only negatives are that you will be without your wii for a week and you mii's you created are no longer considered yours. This only means you can't put them in the check mii out channel and you can't edit them. You can still use them in any game.