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For me it wouldn't be as much about releasing titles as modernizing the concept of the Virtual Console. A catalog of retro games was amazing in 2007 but today retro gaming is everywhere. There's a few steps I would take:
- Reduce the prices across all system
- Give players various options to emulate a game
- Add some sort of achievements (maybe trophies, as seen in Smash)


But most importantly I would release a "remastered" series that adds new features (not better graphics) to games: Super Mario Kart with 4 player online multiplayer support. Donkey Kong with leader boards. Mario Party online.
Last but not least I'd give players the option to subscribe to the VC service: For $5 a month you get access to all games (think PS Plus), or maybe to some sort of "Virtual Console Channel" that features new games periodically.