I haven't played a lot yet, but I can always edit my post...
Best Graphics: Super Mario Galaxy
Best Sound Effects: Hum...I'll get back to this one.
Best Replay Value: Guitar Hero 3
Best Music/Soundtrack: Guitar Hero 3
Best Story: Super Paper Mario
Best Multiplayer: Warioware: Smooth Moves
Most Innovative Feature in a Game: 2D/3D flip in Super Paper Mario
Most Innovative Game: Super Mario Galaxy
Best First/Third Person Shooter: Ugh. RE4 but it's an old game, so I'll change this once I play others.
Best Racing Game: G1 Jockey Wii (highlighted because it's #1 on metacritic for 2007 Wii Racers and I actually own the PS2 version and really enjoyed it. A friend bought it as a Christmas "gift" but was shocked, and so was I, that I played it all night. I am also shocked there's a Wii version, heh.
Best RPG: Super Paper Mario
Best Action/Adventure Game: Super Mario Galaxy
Best Virtual Console Game: Super Mario World
Game of the Year (all genres): Super Mario Galaxy
Turd/Letdown of the Year: NCAA Football 2008 not on Wii (friend that I play that game with the most only owns a Wii, so if I visit him I have to bring my PS3).