Yes, there is a ton of life left in the Wii. It will last at least as long (if not longer) than the PS3/X360 due to being the market leader.
As for games, here are a few "hidden" gems that you might want to look into.
Fire Emblem: Radiant Dawn (best SRPG available)
Little King's Story (Real Time Strategy Game)
Punch-Out!! (twitch puzzle fighting game)
Metroid Trilogy (All 3 Metroid games for the price of 1 and a great first person adventure game)
Muramasa (looks really cool, got good reviews)
A Boy and His Blob (throw back puzzle platformer game, got great reviews)
Mercury Meltdown Revolution (marble game, only with mercury, really cheap)
Trauma Center (either game, both really cool doctor games, the second has co-op)
The God Father: Black Hand Edition (best motion controls on Wii ever, GTA clone)
Super Paper Mario (Great 2D/3D Platfomer with humorous story and very slight RPG elements)
World of Goo (WiiWare - great physics puzzle game)
I could keep naming games, but the list would be too long, so those are good to start off with.
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