uhm...it's like TP or Okami waggle..so not precision...hopefully that will change with Wiimotion Plus
as for online..I guess there's lag here and there..?
the options for online are:
friend match
random match
ranked match
rival match
after any random match (or ranking match) you can add someone to your rival list and invite them for rival matches..so it's way better than brawl ^_^