I played the first Burnout on GC and thought it was decent, then played the second (a lot) and thought it was great. Later, after obtaining an Xbox, I eventually purchased both Takedown and Revenge (and later traded in Revenge in order to pick up the 360 version down the road) and loved both. The World Tour mode that is introduced in Takedown is FAR superior to the single-player design in Burnout 2 and really adds a lot to the game; the sense of speed is once again second to none and the arcade-style racing is pretty much the best of the genre.
If you don't have access to games in the series after the second, I think you should definitely hope for a Wii iteration; the games have typically been of very high quality for fans of the genre (I have no experience with Dominator, however). Hopefully if such a game comes to exist, it will maintain this standard; I'd hate to see a lackluster Wii version of a traditionally great series (and the handheld versions might as well not exist). Hope for the best, rent it if it comes along and see how it turns out.
Tagged: GooseGaws - <--- Has better taste in games than you.