<==== (That Guy is a Sega Fanboy)

The Dreamcast was like 200 Mhz. The Wii, being PowerPC based, has something like a 700 Mhz processor, correct? So doesn't that the Wii is at least 6 -7 times more powerful, based on just CPU speed?

On top of that, Dreamcast was designed with DirectX in mind, as it ran on a variant of WindowsCE.

I think it would be very easy to emulate a dreamcast! It would be harder to emulate a Saturn, since the saturn has two processors and all.

I would LOVE IT if the Wii emulated Dreamcast. I have at least 12 games or so for my DC, and I still play it on my monitor (via my TV tuner)

I hope that the Wii would just be able to take in Dreamcast CD's and play them that way, since I already own the games. I wouldn't want to throw down 10 bucks or whatever to play Chu Chu Rocket on Virtual Console since I already own the GD-ROM.

::stops drooling::

it would be nice to have DC emulation on the Wii, there were some really fantastic games on the Dreamcast, but to be honest I don't see it happening. Emulating Windows CE would be a trial without Microsoft's help, which I don't see happening. SEGA couldn't really help there since it's proprietary MS technology.

As for FAT32 technology, there's quite a lot of debate as to whether MS really can enforce any patents on that, but there would be nothing stopping Nintendo from formatting it using some other file system. As far as I can tell, that's what they're doing with the SD cards that are plugged into the Wii (correct me if I'm wrong here). 

Corrections before people go on repeating wrong things :

SD cards are NOT formatted in FAT32, and no, MS does NOT own FAT32 format.

Natural format of flash cards, SD cards included, is FAT16. It's not even a MS format, but an IBM one IIRC. MS owns patents on long filenames, which is why most devices that uses FAT filesystems use the 8.3 format (8 characters + max 3 characters extension) to avoid a (anti-competitive and abusive) MS lawsuit.

That means your camera, your Windows formatted iPod, ... all use FAT16 natively, sometimes a limited FAT32, but FAT32 is the worst filesystem around in any field (reliability, efficiency, ...). But it's the lowest common denominator compatibility wise.

 And I agree that the statement from Nintendo could just mean that you need an ext2 or ext3 filesystem on your disk, with some data that you would need to duplicate on another disk for it to be recognized.

No big deal when you know what you're doing, but most people couldn't do that.