It is imminent... The first time a Nintendo console has exceeded sales of its predecessor, and in little over a year also! The Wii lifetime sales are currently at 19.80 million worldwide and were at 501k last week. If sales stay the same, the Wii will surpass lifetime Gamecube sales (21.5 million) four weeks from now.
However, Wii sales will not stay level because of the release of Super Smash Brothers Brawl.. likely to be one of the biggest sellers of this generation.
Anyway, I believe Wii will surpass Gamecube's lifetime sales on February 10, 2008. A great time to be a Nintendian, indeed!